Finastra reimagines digital experiences with Next Gen Mobile Banking

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:

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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