Finxact has announced the availability of new features in its sandbox for qualified banks and ancillary service partners to begin exploring, innovating, and building novel products, mobile services, and modern banking capabilities. These new features are part of their Core-as-a-Service being launched in full-scale operations late this year.
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.”
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