Abaka, an AI driven digital savings and retirement solutions platform, announced that its Abaka’s AI-powered Next Best Actions application is available for purchase through Finastra’s FusionStore. The retail banking application will enable financial institutions to benefit from an AI-driven recommendation engine, by building a truly customer-centric ecosystem across their range of products and services.
Going live on FusionStore marks the final stage of the app development journey for firms using Finastra’s open development cloud platform, FusionFabric.cloud. The FusionStore marketplace enables Finastra’s customers worldwide to access, test, purchase and deploy certified apps on top of Finastra core systems, helping them to quickly realize the benefits and deliver added value to their customers.
Built on Finastra’s industry-leading core technologies and harnessing an extensive catalog of open APIs, Abaka has developed an innovative solution that brings together a financial institution’s relevant customer data augmented with other sources for enhanced insights. Based on collected data, the AI-engine predicts what ‘Next Best Action’ will resonate and activates a customer response. It delivers it to the right people, at the right time and through the right channel using a curated content feed platform, via personalized emails, in-app or push notifications. It comes pre-integrated with Finastra’s Fusion Equation and Fusion Essence solutions for faster deployment and reduced implementation cost.
Fahd Rachidy, CEO and Founder of ABAKA, said, “The arrival of big data, AI and machine learning is now starting to revolutionize traditional marketing and the customer journey management processes. The gathering, analysis and application of large amounts of behavioral and demographic data is providing companies with a richer understanding of their existing and target customers. The integration with Finastra’s FusionFabric.cloud significantly accelerates how banks can access and mine data to deliver hyper- personalized digital experiences to their customers at scale.”
Vincent Pugliese, SVP and General Manager of Platform at Finastra commented: “A new app hitting the FusionStore is an exciting moment for us and our partners. It marks the point at which an innovative idea becomes a reality that can benefit financial institutions worldwide. Our customers are seeking out innovation from fintechs like Abaka, which they want to consume quickly and easily through the FusionStore. We welcome Abaka to the FusionFabric.cloud platform as we continue building the next wave of financial services solutions in collaboration with our partners.”
Using Finastra’s open APIs, developers can create solutions that address business challenges across the financial services spectrum, including retail banking, payments, transaction banking, corporate banking, lending, treasury and capital markets.