Overview
Finxact is delivering Core as a Service. Core as a Service (CaaS) is a native SaaS digital system of record for processing a bank's deposit and/or loan accounts with system resiliency, high throughput, and regulatory compliance. Finxact's CaaS is a 100% accessible API-first design, the is cloud-native for enabling banks and credit unions to optimize their tech/operations stack with efficiencies and time to market. With three decades of experience building, operating, and implementing U.S. core banking systems at all tiers, the Finxact team is delivering a fresh approach to innovation, technology and commercial relationships with its customers and ecosystem partners.
Features
- API first design: Providing 100% accessibility to Finxact's modern banking model and a bank's data.
- Single Code Base - Cloud Native: Providing near infinite scale with technical AND commercial elasticity giving banks flexibility.
- Extensible Banking Model: Model Driven Design and Code Generation features provide banks a way to rapidly introduce proprietary capabilities.
- API Driven Ecosystem: Banks have technical and commercial choice to choose the elements of their entire banking stack, optimizing for new capabilities and efficiencies at the same time.
Key Benefits
Finxact's Core as a Service (CaaS) provides banks with an innovation platform for transforming their businesses.Finxact’s modern banking model serves as a digital system of record for banks and their partners.An API-first design provides 100% accessibility to all business level functions and all bank data.With faster integration, 100% access to modern core functionality, and 100% access to a unified system of record banks come to market faster, with differentiated services, and while driving the efficiencies inherent in a near-infinite elastic scale of a cloud-native real-time system of record.
As an innovation platform banks may choose to transform by first launching a digital only initiative to attract new deposits in new markets.The technical and commercial elastic scale of Finxact’s CaaS provides flexibility to grow the platform vertically in scale or horizontally in function with additional bank products like LOC, CDs etc., and services like adding cards, checks, etc.).
Banks may also choose to use Finxact’s CaaS for converting off their legacy systems directly, or to use a digital only initiative as a target platform for migrating customers and products over time.