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FinWise Bank Plumps For Finastra to Drive Digital Expansion

FinWise Bank, a Utah-based community bank, has selected Finastra’s Fusion Phoenix core banking solution to modernise its banking infrastructure.

The bank, which partners with fintechs and is an US Small Business Administration (SBA) lender, will leverage the new core capabilities to better align its retail and business lending technology with its fintech lending programme.

FinWise Bank has selected Finastra’s Fusion Phoenix core banking solution. It empowers the Bank to support new accounts on a national level while delivering top notch customer service both locally and nationally.

“FinWise is a unique bank doing innovative things in the fintech space,” said Dawn Cannon, EVP and chief operating officer, FinWise Bank. “We needed to find a core provider that could match our needs for flexibility and growth, as well as one that has the experience and stability we could put our trust in. We feel that Finastra is that provider.”

FinWise Bank required digital core solution with banking functionality powered by open APIs, the cloud as well as microservices, making it fully adaptable to new and emerging technologies. It says Fusion Phoenix offers needed flexibility, increases efficiencies, and fully integrates customer data, allowing for more personalised campaigns and customer interactions.

“Fusion Phoenix provides FinWise the open architecture and flexibility it needs to achieve its exciting digital expansion,” said Keith Redding, chief revenue officer, universal banking at Finastra. “Our core solution’s open model creates results and extensibility today, while futureproofing technology and enabling future growth.”

Earlier this year, the Utah state-chartered non-member bank bagged the accolade of the “Top Performing Community Bank of 2021” by Independent Banker Magazine.

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