Categories: B2B Payments

Finastra Reimagines Originations With Fusion Credit Connect Rollout

As it reimagines how borrowers and relationship managers work together, Finastra unveiled the rollout of Fusion Credit Connect on the FusionFabric.cloud of Finastra and the AppExchange of Salesforce. The company said in an announcement that business lending end users are able to have an enhanced customer experience throughout the entire time of securing as well as drawing down on a loan.

“The Fusion Credit Connect app was born out of an initial innovation sprint,” Finastra Chief Product and Technology Officer Eli Rosner said in the announcement. “What we are doing with our FusionFabric.cloud open platform for innovation is encouraging industry collaboration and this integration is very much about unlocking potential for enhanced customer experiences.”

Fusion Credit Connect joins the lending ecosystem of Finastra with the Salesforce Platform, which is connected through application programming interfaces (APIs) on FusionFabric.cloud. The technology will let financial institutions find opportunities, reduce complexity, decrease time to close and bolster revenues via an enhanced user experience per the announcement.

Finastra noted that increased efficiency and communication will improve the borrower customer experience, which will ultimately assist in raising revenue.

“Fusion Credit Connect is a welcome addition to AppExchange, as it powers digital transformation for customers by reimagining the corporate lending experience,” Salesforce AppExchange Woodson Martin said in the announcement. “AppExchange is constantly evolving to enable our partners to build cutting-edge solutions across industries, including financial services, to drive customer success.”

Ripple had joined forces with Finastra to let banking customers use blockchain payments network RippleNet per a report in October. At the time, Ripple said it would offer quicker, more affordable and more reliable payments. Users would be hosted on the cloud solution of Ripple and be able to use On-Demand Liquidity.

Ripple’s customers will also be able to access the banking network of Finastra, which will allow users to connect and access each other easily. The banking clients of Finastra process millions of transactions every month per the report.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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