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Finxact and Zafin establish a core banking alliance.

May 03, 2024
2 Min Reads

The way financial institutions approach core transformation projects is being revolutionized by Finxact, a Fiserv Company and a leading provider of the next-generation core banking platform to the U.S. regional and super-regional banking sector, and Zafin, a leading provider of SaaS core modernization and transformation solutions for banks.

With Zafin, a comprehensive 360-degree picture of a customer's relationship with a financial institution is possible because to its enterprise product and pricing capabilities. Financial institutions can now implement responsive, real-time pricing and product strategies across a variety of product systems, in line with changing consumer expectations. As a result, there is a quicker time to market than is usually the case with core transformation projects, which creates an atmosphere that is more nimble and encourages ongoing innovation as well as measurable business results.

This method is a key difference in core transformation initiatives because it enables banks to produce fresh revenue streams that support the core transformation project financially, resulting in an innovation and growth cycle that is self-sustaining.

 

Moreover, banks that are currently using different core systems have a strong incentive to adopt Finxact as their future core system due to the partnership between Finxact and Zafin. Through this partnership, banks will be able to continue and enhance their customers' relationship-based understanding and pricing strategies both during and after the switch to Finxact, enabling a smooth transition without compromising customer engagement.

In order to address a crucial need and a pressing necessity of the major financial institutions that oversee millions of client relationships, Zafin and Finxact are collaborating to deliver an integrated product. The Zafin platform allows financial institutions to provide true relationship banking at scale by enabling visibility and reactivity.David Ortiz, Head of Partnerships at Finxact, stated, "Together, we are giving these institutions a sustainable competitive advantage that will increase the customer lifetime value."

"Our collaboration with Finxact is revolutionary as it provides crucial features for pricing and products for all of our product systems. Chris Dickin, Global Head of Strategic Partnerships at Zafin, said, "We provide financial institutions a faster approach to core modernization and, more significantly, the capacity to realize business objectives quickly by connecting our platform with the Finxact next-generation core banking platform.

 

See the Finxact partner directory for additional details on how Zafin improves the Finxact user experience. Leading fintech companies and financial technology suppliers are drawn to the Finxact partner ecosystem to showcase their products to the world by integrating them with the top next-generation core platform through its open-API design. Banks may easily find pre-integrated solutions that are a part of the Finxact reference ecosystem in production environments, as well as solutions for which they might become the driving force behind API-based integration, in the partner directory.
 

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