The Peoples Community Bank Selects Finastra to Modernize its Core and Digital Banking Platforms
Customer-focused community bank selects suite of solutions including Fusion Phoenix and Fusion Digital Banking for seamless integration and enhanced efficiencies
LAKE MARY, Fla., July 6, 2020 /PRNewswire/ -- Finastra today announced that The Peoples Community Bank is expanding its relationship with Finastra in order to provide its customers with enhanced digital capabilities and speed to innovation. The Peoples Community Bank has worked with Finastra for over 20 years and is now upgrading to the Fusion Phoenix core platform and adding Fusion Digital Banking, Fusion LaserPro and other Finastra solutions.
The Peoples Community Bank selected Fusion Phoenix as its open and modern core, in order to bring new products and services to its customers in a timely manner. With its current core, new interfaces can take months to build whenever the bank seeks to roll out a new service to customers. Through Finastra's rich catalog of open APIs and its relationship with Microsoft Azure, the bank will be able to roll out new services and features to customers in a matter of days. Furthermore, through FusionFabric.cloud, Finastra's open developer platform and marketplace, the bank will be able to shop for new innovative services – created by Finastra or trusted third-party fintechs – which can be rolled out to customers instantly. The bank has already selected the Allied Bill Payment app, developed by Allied Payment Network and Finastra, for real-time bill payment via the digital channel.
"As a small community bank, being able to leverage a relationship with a large international vendor like Finastra, gives us the assurance that we will remain forward-thinking and competitive," said Quinn Christensen, Senior Vice President, Operations, The Peoples Community Bank. "A community bank of our size cannot afford to wait a year or even months to bring new services onto its core platform. Working with an innovator like Finastra will allow us to offer products and services on par with the largest global financial institutions, quickly and easily. Through our relationship with Finastra, we have access to greater agility, innovation, integration, and security compared to working with any other core in the market."
The Peoples Community Bank is committed to running efficiently and providing its customers with a simple, seamless user experience. Having worked with Finastra for a number of years, it saw potential to leverage Finastra's best-of-suite solutions to serve the bank across its technology needs. Using Finastra's open and modern Fusion Phoenix core and Fusion Digital Banking, The Peoples Community Bank is able to increase efficiencies through tight integration of component solutions, including its workflow system, including improved end-to-end lending efficiencies with the addition of Fusion LaserPro and powerful loan servicing capabilities inherent to Fusion Phoenix. Employees will be able to do more with less time, and the bank will be able to grow assets without adding staff.
"We've had the pleasure of working with The Peoples Community Bank for many years, and it is an honor that they continue to put their trust in us as the technology partner to help them grow their business and continue to delight their customers through cutting edge digital banking services," said Chris Zingo, SVP and GM of Americas Field Operations, Finastra. "Tapping into an integrated, best-of-suite set of solutions, The Peoples Community Bank will be able to serve its customers with banking products and technologies that work together today and will surpass expectations into the future."
This announcement builds on Fusion Phoenix's strong momentum in the past year, with a number of banks, including Seattle Bank and FNBT, selecting the core. Increasingly, banks realize the value of a comprehensive, dynamic core system that can futureproof a bank's business, rather than limit innovation.
About Finastra
Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world's top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com
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