Finastra today announced its collaboration with Collenda (formerly ABIT Group), a German software and consulting firm specialising in credit, debtor and debt management.
Finastra’s Fusion Essence in the cloud solution will be seamlessly integrated with Collenda’s loan application and management software. The move expands Finastra’s trusted core banking platform to cover local requirements for loan origination and servicing in the German market. Collenda will also be able to provide its proven sub-ledger solutions to a wider range of banks which are already Finastra clients.
Achim Thienel, Senior Manager Global Solutions Consultant Core Banking SaaS at Finastra, said, “The integration of our cloud-based Fusion Essence platform with one of Germany’s leading loan application and management solutions is a brilliant achievement for us. The collaboration with well-established and renowned partners like Collenda underlines the huge progress that we have made in opening our solutions in recent years and our commitment to teaming up to spark true innovation, which benefits our customers. Our core banking platform is proven to support German banks in today’s competitive environment, and the extension of services with this move provides even more value to our customers.”
Fusion Essence delivers the highest level of automation, performance and straight-through processing. Through the collaboration with Collenda, the cloud-based platform will provide additional benefits to German financial institutions including a modern process-driven user interface as well as existing integrations with statutory reporting and the local credit investigation company Schufa. It covers mortgages, loan origination functionalities and a fully digitalized loan process management service.
Christian U. Haas, CEO of Collenda, said, “In the highly professional and regulated loan market, we see a growing demand for secure, scalable digitalized platforms, which enable us to offer intelligent and efficient loan application and management processes. Finastra’s Fusion Essence in the cloud platform enables us to provide our customers in the financial services market with exactly these reliable and modern solutions, while relying on a secure cloud-based environment.”
Fusion Essence in the cloud is deployed on Azure, Microsoft’s enterprise-ready trusted cloud platform. It offers the financial services industry’s high standards of security, performance and operating excellence.