Finastra has launched its Fusion Data Cloud suite of solutions for financial services, which is designed to help financial institutions improve customer engagement, grow revenue, digitise processes and manage risk.
The Fusion Data Cloud, supported by Microsoft Azure, enables banks to share their data with fintech companies and ingest data from external data sources to create new data solutions. The solutions are pre-integrated with Finastra products for faster delivery. The suite also provides artificial intelligence (AI) and machine learning (ML) algorithms that create predictive and prescriptive analytics to deliver real-time insights, while business intelligence tools provide analytics visualisation and omnichannel interaction.
Finastra has already used the Fusion Data Cloud to produce AI and ML data apps, including Mortgagebot Data Insights to optimise loan processing and application conversion and Fusion Payment Insights to provide payment customers with an operational customer view. Fusion Analytics enables churn detection and product recommendations for North American community markets, with Fusion Retail Analytics providing the same services for international banks.
“Finastra is uniquely placed to connect fintechs, financial institutions, and third parties to accelerate the creation of innovative data solutions for our customers and our partners,” said Eli Rosner, chief product and technology officer at Finastra. “Our open ecosystem revolutionises the innovation process – advanced analytics can generate crucial insights for financial institutions to help them personalise and transform the customer experience, reduce risk and amplify business results.”