Marketplace Growth Fueled by Banks’ Desire for Choice and Control
Finxact, the leader in Core as a Service banking, is spear-heading the transition in the United States to a model of core banking that combines the benefits of cloud with the ability for banks to readily select among best-in-class technology providers.
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Today, Finxact announced the addition of two new Marketplace members, Unqork and TransferWise. Unqork, recently valued at $2 billion following its most recent capital raise, is the leading enterprise no-code platform that drives up quality and drives down the cost of mission-critical application development. TransferWise is a global technology company building the best way to move money around the world, currently valued at $5 billion. Through the Finxact Marketplace, TransferWise’s API allows banks and credit unions to provide their customers the industry’s leading international payments experience: fast, low cost and transparent. Both companies share Finxact’s commitment to cloud and API-enabled banking that give banks maximum choice, efficiency and control over the experience they create for their customers.
“We are delighted to welcome these two companies to the Finxact Marketplace and into the projects and conversations with our clients and prospects. Their value propositions are in high demand as evidenced by their success,” said Christopher McClinton, CMO, Finxact.
“Unqork’s no-code platform was designed to support mission-critical applications in regulated industries like financial services, so joining the Finxact Marketplace makes perfect sense,” said Brian Karimi-Pashaki, Director, Technology Partnerships & Marketplace, Unqork. “It’s now easier than ever for Finxact customers to get started building the bank of the future with Unqork and, as a result, we are going to drive a lot of value in the industry.”
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Abid Mumtaz, Global Head of TransferWise for Banks, said: “I’m excited to announce TransferWise’s partnership with Finxact, a company that similarly values transparency. TransferWise ultimately wants to ensure that everyone has access to fast, cheap, and transparent international money exchange, and this partnership with Finxact is the next step in achieving this mission.”
The Finxact Marketplace is a hub of some of the most innovative and in-demand companies in fintech that offer solutions for an API world and accelerate partner integrations with the next generation of core banking. All perform services that add value for banks and complement Finxact’s Core as a Service.
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.
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