Fintech
Leading banking technology companies: Finastra, IBM, Sopra in 2024
Today, banks and financial institutions are undergoing major transformative changes.
A recent Deloitte survey reveals four key trends dominating banking evolution today, including:
. Fundamental rebirth: The modernization of legacy business systems and, in part, their migration to the cloud.
. MLOps – Industrialized AI: ML analytics is radically transforming data analytics with near real-time data processing.
. Machine data revolution: Extract data from silos thanks to cloud, AI and ML technologies to make it easily available across all banking divisions.
. Zero trust: Expand cybersecurity capabilities to counter the threat posed by increasingly technologically-enabled fraudsters.
Here we will look at some of the leading companies providing fintech solutions to banks today: Finastra, IBM and Sopra Banking Software.
Window
Window is a global financial markets and software applications provider serving institutions of all sizes, with solutions for lending, payments, treasury and capital markets.
Finastra’s solutions include Fusion Essence, a core solution designed for retail and commercial banking. Essence provides features for account management, deposits, loans and customer engagement.
Finastra’s Fusion Pheonix software provides banks with an open, AI-enabled core banking solution, allowing them to quickly integrate best-in-class products and capitalize on new trends and opportunities.
Elsewhere, FusionFabric.cloud provides an open innovation platform that allows banks to develop and integrate fintech applications, while Fusion Treasury offers liquidity, funding and risk management solutions.