Finastra has scored its second core cloud banking deal with an up-and-coming UK neo bank, adding SME-focused startup Gravity to its client roster.
Gravity is currently seeking authorisation to serve SMEs with lending, credit card and deposit services.
The bank has selected Finastra's Fusion Essence end-to-end package operating though an on-demand model over Microsoft Azure, providing a ready-made architecture at low cost of entry and the ability to scale up as the business grows.
Tim Brooke, chairman of Gravity says: "By partnering with Fusion Essence in the cloud we will bring to market an agile, customer-oriented service that will make business banking fairer and simpler.”
The agreement follows hot on the heels of a recent deal with Revverbank, a Manchester-based new bank for regional businesses and savers in the UK, which also selected Fusion Essence in the cloud to power its end-to-end core banking capabilities.
Editorial | what does this mean?