Vendors
日本語

Core as a Service

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)

Overview

Core as a service is a modern SaaS based system of record for processing bank deposits and loans. Finxact's core a as service is a cloud-native core banking system that is 100% accessible at the business logic and data levels by bank and their partner via multi-granular levels of APIs. Banks and partners can use Finxact's APIs and code generated model driven design to extend Finxact's model and APIs to rapidly introduce new proprietary capabilities, and facilitate faster integration with third parties and other banking systems. Finxact's API accessible model provides banks with a framework of re-usable components and objects for customizing and creating new products and services. Finxact is currently implementing multiple U.S. banks, starting with savings and CDs, followed by checking, line of credit and next year - lending. Finxact's elastic scale and consumption based commercial terms give banks the option to convert legacy systems, or launch digital only inititiaves, or both using digital a digital only bank as the target platform to scale products, services, and eventually migrate existing customers.

Key Features

  • 100% Accessible API-first design at multiple levels of granularity from business logic to data
  • Cloud native (single code base, API-first, elasticity of scale and commercial terms
  • 100% event driven, batchless
  • 100% real time 24x7x365 non stop
  • Extensible Model Driven Design
  • Pre-integrated ecosytem components for replacing parts or all of a bank's legacy stack
  • All included maintenance, upgrades, and various UI (core servicing, product creation/maintenance, instance management, training, documentation)

Key Benefits

  • Savings
  • CD
  • DDA (expected late 2018)
  • LOC (expected late 2018)
  • Loans (expected 2019)
  • Party, Person, Customer Groups (with options for a bank to use a separate customer system of record)
  • Holds, limits, stops
  • Orders & transactions
  • Real time fraud detection
  • Bundles and relationship pricing
  • Hierarchical GL for extract to a bank's GL/accounting

Product/Service details

SOLUTION OR SERVICE TYPE