The enhanced banking application empowers community banks and
credit unions to remain competitive, offering a seamless user
experience across multiple platforms and new features for account
holders
LAKE MARY, Fla., April 24, 2024 /PRNewswire/ -- Today at
Ignite! 2024, Finastra, a global provider of financial
software applications and marketplaces, announced the availability
of its latest mobile banking software, Next Gen Mobile Banking, a
new digital banking experience for community banks and credit
unions. The advanced mobile banking application provides a seamless
user experience, offering financial institutions customization
options and enhanced security features.
This comes as community financial institutions strive to
maintain and grow market share in a competitive and consolidating
landscape, which requires cutting-edge mobile banking offerings –
particularly when it comes to obtaining the rising generations of
account holders. With Next Gen Mobile Banking, Finastra empowers
community banks and credit unions with features likely to appeal to
customers and members of all ages, such as the app's built-in
personal financial management tools, with which financial
institutions can offer account holders easy access to budget
planners and more.
"Climate First Bank is a unique and digitally-driven financial
institution, which means we need the right tools to support our
growth and to give our customers the digital experience they expect
and deserve," said Marcio de
Oliveira, executive vice president, chief technology and
digital banking officer at Climate First Bank. "This new app
enables us to provide a seamless, personalized, and easy to use
mobile banking experience that supports our vision of reimagining
finance as a force for good. We're grateful to be an early adopter
of Finastra's new solution, and we look forward to working with our
customers across both personal and business segments to take
advantage of everything it has to offer."
As bad actors become increasingly sophisticated, preventing
fraudulent activity is only more pressing for community financial
institutions today. Next Gen Mobile Banking provides banks and
credit unions with enhanced security features like Passkey
Authentication, which offers seamless and robust protection against
phishing and other threats. The expanded authentication method
means that credentials cannot be guessed, intercepted, or reused,
strengthening the overall security for the user. User Trusted
Device Management is also enabled in the application, which offers
account holders transparency and trust while mitigating
unauthorized access to personal information.
"Finastra has delivered sophisticated digital experiences for
many years, and this enhancement marks our commitment to creating
solutions that provide community banks and credit unions with the
features and security needed to help them stay ahead of the
competition," said Narendra Mistry,
chief product and technology officer, Universal Banking at
Finastra."With Next Gen Mobile Banking, our customers can deliver
an innovative and sophisticated user experience that is tailored to
the unique needs of the communities they serve."
Other key features of Next Gen Mobile Banking include:
- Recognizing that each financial institution in the United States is unique, the solution
offers a selection of interface templates, providing each
institution with the power to personalize the mobile experience and
to tailor the application to their specific needs.
- The solution was developed cross-platform, allowing for faster
development cycles and easier deployment across different mobile
operating systems.
- Since the application is built using a single codebase, a
seamless user interface is available across both iOS and Android
devices, enabling a consistent brand identity and customer
experience for account holders. The unified code base also allows
for rapid updates, enabling financial institutions to deliver the
latest enhancements and features quickly and efficiently.
Next Gen Mobile Banking is now deployed for financial
institutions participating in Finastra's pilot program. The
application is expected to be available for all Finastra Phoenix
consumer banking customers in mid-2024.
About Finastra
Finastra is a global provider of financial software applications
and marketplaces, and launched the leading open platform for
innovation, FusionFabric.cloud, in 2017. It serves
institutions of all sizes, providing award-winning software
solutions and services across Lending, Payments,Treasury &
Capital Markets and Universal Banking (Retail, Digital and
Commercial Banking) for banks to support direct banking
relationships and grow through indirect channels, such as embedded
finance and Banking as a Service. Its pioneering approach and
commitment to open finance and collaboration is why it is trusted
by over 8,000 institutions, including 45 of the world's top 50
banks.
For more information, visit finastra.com
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