First National Bank of Manchester selects Finastra to upgrade its core

By Joy Dumasia

Finastra announced that First National Bank of Manchester (FNBM) had selected Fusion Phoenix as its new core banking solution to serve its account holders and grow the bank. The decision represents an upgrade from its previous core, also from Finastra.

Fusion Phoenix will serve as a differentiator and engine for growth for FNBM. As a modern core built entirely on Microsoft technology, residing in the Microsoft Azure cloud, Fusion Phoenix will enable FNBM to quickly integrate new technologies. Finastra’s FusionFabric.cloud open developer platform and FusionStore will allow the bank to add innovative services from third-party FinTechs, allowing FNBM to take advantage of trends and opportunities quickly and efficiently.

The open core integrates seamlessly with other Finastra solutions already used by the bank, including Fusion Digital Banking, Fusion LaserPro, Fusion CreditQuest and others. Because of this, it provides a 360-degree view of the customer, including account holder exposure, contact history, loan balances, account alerts and more, so that FNBM can serve its customers with bespoke service and custom-tailored products.

Chris Zingo, SVP and GM of Americas Field Operations, Finastra, said: “It was an honor to be selected by First National Bank of Manchester when it looked to upgrade its core, in order to better serve its evolving customer base and grow into the future. Over the past several years, Finastra has made bold moves to ensure that financial institutions can future-proof their technology investments while being able to overcome industry challenges and take advantage of opportunities presented by today’s fast-changing market.”

Recently, IBS Intelligence reported that Tesselate Africa, a subsidiary of Tesselate Group, and Finastra, the largest pure-play software vendor that serves the entire financial services industry, recently announced their partnership. Tesselate Africa is now certified as a distributor of Finastra’s Fusion Invest solution, bringing a comprehensive front-to-back experience for asset managers to Morocco.