Flagstar selects Finxact, next-generation core banking platform, as a foundation for modernization strategy and key pillar of the Flagstar S2 Platform
Fiserv, Inc. (NASDAQ: FISV), a global leader in payments and financial technology, and Flagstar Bank, N.A. (NYSE:FLG), one of the nation’s largest regional banks, today announced that Flagstar has selected Finxact from Fiserv, a modern, cloud-native core banking platform, as the cornerstone of the bank’s core modernization strategy.
Flagstar’s selection of Finxact is a natural extension of its commitment to building a modern technology foundation and a key component of the Flagstar S2 Platform™ — Simple and Sophisticated — the bank’s unified technology transformation initiative. Finxact will serve as the next-generation system of record and transaction processing engine underpinning Flagstar’s modernization strategy, replacing legacy technology and positioning the bank to deliver the real-time, digital-first banking experiences today’s customers demand. As the bank moves to a single, consolidated core with Finxact, it will implement planned conversions in a phased approach to support a seamless transition.
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“At the heart of everything we do is a genuine commitment to making banking better for our customers starting with how we build and evolve our technology,” said Christopher Higgins, Chief Information & Operations Officer at Flagstar Bank. “Choosing Finxact wasn’t just a technical decision, it was a pivotal moment for us. A significant enabler of everything the Flagstar S2 Platform is becoming, Finxact will give us the freedom to move faster, grow smarter, and deliver the kind of real-time, seamless experiences that today’s customers expect. We’re not just keeping up with the future of financial services — we’re building it.”
“Financial institutions are increasingly rethinking their technology foundations to improve agility, deliver differentiated experiences and respond more quickly to evolving customer expectations,” said Srini Krish, Co-Head, Financial Solutions, Fiserv. “Flagstar’s vision for technology is exactly the kind of bold, forward-thinking transformation that Finxact was built to enable. This partnership is a powerful demonstration of what a next-generation core platform can enable for a large financial institution and will serve as a compelling model for institutions across the industry.”
Finxact is an open, cloud-native, API-first platform designed to help financial institutions modernize incrementally while gaining real-time access to data, greater operational flexibility and faster product development capabilities. Its real-time, temporal transaction processing eliminates end-of-day batch reconciliation, delivering a single, authoritative version of the truth across the enterprise. Finxact’s open, extensible architecture and API-first design are purpose-built to integrate seamlessly within this framework, enabling banks to rapidly deliver new products and services, support embedded finance, and future-proof their technology investments.
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