Finxact expands capabilities for open Core-as-a-Service banking
|Richard Harris in Cloud Services Friday, September 22, 2017|
Core-as-a-Service Cloud banking capabilities to be added in Finxact's sandbox update.
Their sandbox and Open Core API allows banks and partners to launch new products, services and markets with minimal disruption to legacy and ancillary systems. The new features which are available immediately will enable banks to begin testing new or parallel operations, and even use their existing customer system of record. The Finxact Core as a Service is designed to allow banks to easily migrate from their current batch processes to “all-the-time real-time” without windows, batches, phases or stages.
“Finxact is taking a novel and fresh approach to core banking, not just by creating an entire new core banking system natively in the cloud and exposing the full core system through APIs, but we are also pushing the innovation envelope as it relates to banking functionality,” said Finxact CEO and founder, Frank Sanchez. “The new capabilities we’re providing in our sandbox today, begin to lay the groundwork for banks and our mutual partners to use a modern core today, with their business as usual, and be prepared with novel capabilities to extend to the limits of their imagination.”
- Transaction templates: Combine configuration tables with dynamic transaction templates to rapidly create complex transactions in configuration instead of code, thus eliminating costly development time and maintenance.
- Payment orders/ACH/electronic transfers: Accept and post ACH payments and other electronic transfers with straight through processing, greatly improving back-office efficiencies.
- Multiple positions per account: Unlike most core systems that support only a single position or balance per account, the Finxact Core-as-a-Service supports 1 to many positions per account, thus enabling novel account products and services such as ladders and accounts with multi-currency positions. Over time, banks may choose to use the Finxact Core-as-a-Service for both their banking products and brokerage products with accounts holding multiple security positions.
- Real-time as-of position: To support a true batchless, real-time infrastructure, the Finxact core implements database features and accessible API's that can retrieve account positions as-of any point in time enabling real-time services while also reducing operational costs associated with offline reconciliations and processing.
“Finxact's Core-as-a-Service is uniquely exposing fresh core banking functionality to ancillary service partners and banks," said Tia Lee, CEO of TRG Mobilearth Inc. "We are able to truly innovate the mobile branch of the future with Finxact's novel functionality being made available in this new sandbox release."
Love Is Like Pi Never Ending T-Shirt Math Pi day Gift Shirt. Perfect Shirt to celebrate Pi Day 2019. Great gift whether you just love Math or you are a Math Student, Teacher or similar.
Are you paying more taxes than you have to as a developer or freelancer? The IRS is certainly not going to tell you about a deduction you failed to take, and your accountant is not likely to take the time to ask you about every deduction you’re entitled to. As former IRS Commissioner Mark Everson admitted, “If you don’t claim it, you don’t get it.
Get hands-on experience in performing simple to complex mobile forensics techniques Retrieve and analyze data stored not only on mobile devices but also through the cloud and other connected mediums A practical guide to leveraging the power of mobile forensics on popular mobile platforms with lots of tips, tricks, and caveats.
The Chirp GPS app is a top-ranked location sharing app available for Apple and Android that is super easy to use, and most of all, it's reliable.
Write and run code every step of the way, using Android Studio to create apps that integrate with other apps, download and display pictures from the web, play sounds, and more. Each chapter and app has been designed and tested to provide the knowledge and experience you need to get started in Android development.