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Finastra Launches Payments Solution for Small and Medium-Sized Banks

Financial software solutions firm, Finastra has launched Fusion Payments To Go, its payments solution aimed at small and medium-sized banks aiming to implement domestic and cross-border payment services in Europe, the US and South Africa.

Ola Olaoluwa
Ola Olaoluwa

This financial solution comes with subsidized fixed implementation costs as well as rapid, secure and scalable deployment in the cloud on Microsoft Azure. Banks will benefit from reduced costs and risks associated with system maintenance, whilst meeting changing market regulations and customer demand for frictionless and immediate payments.

Built on Finastra’s payment hub, Fusion Global PAYplus, Fusion Payments To Go provides best-practice functionality and operating rules for supported clearing and settlement mechanisms, along with standard integration to external applications. It removes the need for expensive scheme maintenance, allowing banks to redirect these funds towards the delivery of innovative business services to improve the customer experience bring about revenue growth.

Photo Credit; YouTube

Fusion Payments To Go is available to mid- and small-tier banks in Europe interested in implementing RT1 and/or TIPS immediate payments, as well as the FED and TCH immediate payment schemes in the US. It also helps banks worldwide who look to implement SWIFT.

Packaged as Software as a Service (SaaS), this new Finastra innovation looks after all the elements of finacial service provision; from contracting, onboarding, service operations and upgrades, to billing, thereby reducing the bank’s operational costs and allowing a faster time to market. The solution is suited to grow with the banks who adopt it, being adaptable to all relevant regulatory and market infrastructure developments.

The UK In Focus:

Population: 66.8 million (Compared to South Africa's 59.6 million)

GDP: $2.8 Trillion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $42,30 (Compared to South Africa's $6,193)

Financial inclusion

Ola Olaoluwa

Writer | Economist | Actor | Fashion Entrepreneur