U.K.-based fintech Finastra saw growth in digital service and the number of bank partners in the third quarter, as end-to-end digital capabilities remain top of mind. 

Banking clients are prioritizing multifunctional technology, and to meet that demand, 73% of banks planning to integrate digital and cloud services within the next year, according to a Q3 report from Finastra. 

According to the report, banks are focusing on: 

• AI and advanced analytics; 

• Fully end-to-end capabilities; 

• API-enabled solutions; and 

• Cloud-based solutions. 

With this in mind, Finastra in Q3 secured the following deals: 

• $434 million First Pacific Bank announced Sept. 23 that it tapped Finastra, a certified FedNow service provider, to “enable the payments rail through [the fintech’s] instant payment platform Payments To Go,” Mihail Duta, director of solution consulting and transaction banking at Finastra, previously told Bank Automation News; 

• Finastra selected San Francisco-based fintech Prelim on Sept. 16 to provide streamlined commercial and retail account onboarding for its banking clients; 

• Finastra selected India-based consulting and digital solutions company Tech Mahindra on Aug. 1 to help corporate banks accelerate digital transformation; and 

• Finastra tapped India-based capital finance platform CredAble to expand the functionality of Finastra Trade Innovation, a digitized compliance platform, the fintech announced on July 23. 

“As a result, banks can accelerate their revenue growth, expand their business and increase customer satisfaction by offering corporates a wider range of financial services within a single platform,” a Finastra spokesperson told BAN. 

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