FNBT to grow its business with Finastra’s open core
Using the Fusion Phoenix core and 11 other solutions, the bank will be able to continue to evolve its offerings to meet customer demand
Lake Mary, FL, September 18, 2019 – First National Bank and Trust Company (FNBT), headquartered in Beloit, WI, with 16 locations in Wisconsin and Illinois and approximately $1.2 billion in assets, has selected the Fusion Phoenix core banking platform and a suite of solutions from Finastra. Through Finastra’s open core, digital banking, and other products addressing cross-channel user experience, and more, FNBT will better serve its customers with the financial solutions they need, when they need them.
“Our customers are our family. This not only includes consumers, but a large number of small, family businesses that rely on our cash management and loan services,” said David McCoy, President, FNBT. “The best way we can serve our customer family is through the ability to offer them a robust mix of financial solutions. By implementing Finastra’s Fusion Phoenix core together with a number of other Finastra solutions covering areas from loan processing to the digital platform, we will have a complete ecosystem that allows us to recognize and take advantage of cross-selling opportunities, to help us grow our business while providing a more seamless customer experience to best meet their financial needs.”
The Fusion Phoenix core was chosen to replace the bank’s legacy system for its ability to evolve with the bank’s customers’ needs, including providing access to crucial customer data and opportunities to tap into new innovations. The bank also sought a core with robust workflow capabilities to help standardize processes, reduce costs and maximize efficiencies, improving the experience for employees and customers.
“Finastra’s commitment to open banking and its FusionFabric.cloud platform were vital factors in our decision to select their core, as well as a number of other solutions,” said George Hausermann, SVP and Director of Technology, FNBT. “A truly open core that shares data via APIs means that we can continue to offer innovative bank services, which may sometimes come through third-party fintechs, without dealing with the hurdles imposed by traditional cores. And having been longtime users of Finastra’s Fusion LaserPro and Fusion Mortgagebot, we were confident we were dealing with not just a provider, but a partner invested in our continued success.”
In addition to the Fusion Phoenix core, FNBT selected 11 other solutions from the Finastra portfolio, including Fusion Digital Banking, powered by Malauzai, to deliver standardized user experience across digital banking channels, Fusion ECM, Fusion Item Processing Services, Fusion NetCapture Suite, Fusion Bill Pay, Fusion Cavion’s voice banking solution, Fusion DPXPay, Fusion uOpen, Fusion Analytics, and Fusion PayPlus Connect.
“Having a connected suite of solutions and a platform approach that allows for external innovation enables community banks and credit unions to achieve more and remain competitive with the larger financial institutions,” says Mike Dionne Senior Vice President, Community Markets, Finastra. “With our modern and open core and set of complementary banking solutions, FNBT will be able to meet its customers’ expectations for financial products, convenience, and overall user experience. And most importantly, they will continue to be able to meet those demands in a timely and cost-effective manner.”
For further information please contact:
Caroline Duff
Global Head of PR
T: +44 (0)20 3320 5892
E: caroline.duff@finastra.com
finastra.com
Patrick Kilhaney
Public & Analyst Relations Manager
T: 917-286-1053
E: patrick.kilhaney@finastra.com
finastra.com
About Finastra
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 90 of the world’s top 100 banks use Finastra technology. Please visit finastra.com.
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