Finxact, an established “Core as a Service” banking solution provider, says it’s leading the transition in the US to a model of core banking that leverages the benefits of Cloud along with supporting the ability for banks to choose the best technology providers.
As confirmed in the announcement:
“Unqork, recently valued at $2 billion following its most recent capital raise, is [an established] enterprise no-code platform that drives up quality and drives down the cost of mission-critical application development. TransferWise is a global technology company building the best way to move money around the world, currently valued at $5 billion.”
As mentioned in the release, TransferWise’s API will be using Finaxct’s marketplace to allow banks and credit unions to take advantage of the Fintech firm’s “leading international payments experience: fast, low cost and transparent.” Both TransferWise and Unqork share Finxact’s focus and commitment to Cloud and API-powered banking that aim to give banks “maximum choice, efficiency and control over the experience they create for their customers.”
Christopher McClinton, CMO, Finxact, stated:
“We are delighted to welcome these two companies to the Finxact Marketplace and into the projects and conversations with our clients and prospects. Their value propositions are in high demand as evidenced by their success.”
Brian Karimi-Pashaki, Director, Technology Partnerships & Marketplace, Unqork, noted that his company’s no-code platform has been developed to support mission-critical software apps in regulated sectors such as financial services, so joining the Finxact Marketplace “makes perfect sense.”
“It’s now easier than ever for Finxact customers to get started building the bank of the future with Unqork and, as a result, we are going to drive a lot of value in the industry.”
Abid Mumtaz, Global Head of TransferWise for Banks, noted that he’s looking forward to working with Finxaxt, which is a company that also values transparency (just like TransferWise).
Mumtaz added that TransferWise “wants to ensure that everyone has access to fast, cheap, and transparent international money exchange, and this partnership with Finxact is the next step in achieving this mission.”
The Finxact Marketplace is a hub of innovative and in-demand Fintech firms that provide solutions for an API-powered world and are focused on speeding up partner integrations with the “next generation” of core banking services.
Finxact acquired $30 million in capital from major banking and financial services companies last year. It’s now working with several different US based and international financial institutions on initiatives ranging from “full core conversions” to digital-only projects.