Finxact, the leader in Core as a Service banking, today announced the launch of the Finxact Marketplace along with its new corporate website.
The Marketplace will feature best-in-class, API-driven technology providers that are creating a dynamic and diverse ecosystem of solutions to bring about the next generation of core banking.
Finxact is a headless core platform that performs a complex position keeping function for the bank. As such, it has introduced a new model of core banking to the U.S. market in which the bank is empowered to design and determine its own product ecosystem, with solutions sourced from third-party vendors or custom developed.
"We recognize that our customers require an expansive and diverse ecosystem of solutions to serve their customers. Through our Marketplace we hope to create a vibrant community of best-in-class providers that are challenging the industry to envision a future of core banking that is open and inventive," said Christopher McClinton, CMO, Finxact.
The Marketplace will be inclusive of technology providers that are already consuming Finxact APIs in production environments on behalf of their clients, as well as those that are not yet, but are on that path. All are performing services that are adding value for banks and are complementary to Finxact Core as a Service.
Among the new companies being welcomed to the Marketplace are Marqeta and MX. Marqeta is setting the new standard for modern card issuing with an open API platform that allows banks to issue, authorize, and manage their payment operations. MX is helping banks create exceptional digital experiences for their customers by connecting them with their financial data in ways that are meaningful and actionable. Both are excellent examples of companies that are embracing APIs to render better outcomes for their customers.
"Marqeta's open API platform allows payments innovators to issue cards and process payments with greater control, flexibility and scale. We see a strategic fit with Finxact, who is bringing greater choice and optionality to a new generation of digital banks and look forward to partnering with them to modernize payments," said Vidya Peters, CMO at Marqeta.
"We are excited about the demand for financial institutions to use core data to create exceptional experiences and drive growth. Our presence in the Finxact Marketplace signals to the broader industry the synergies between our offerings and the ability to successfully deliver on these expectations," said Don Parker, EVP of Partnerships, MX.
Financial services organizations and technology innovators interested in accelerating the future of banking, can learn more about how to join Finxact's Marketplace here: https://finxact.com/marketplace/
Finxact secured a $30 million strategic investment by leading banking and financial services firms in 2019 and is currently working with multiple U.S. and international financial institutions, from de novo banks to top-tier banks, on projects ranging from full core conversions to digital-only initiatives.