Fintech giant Finastra has announced its partnership with Russia-based digital-only bank Tinkoff for their planned expansion into the Philippines.
The bank has chosen Finastra’s Fusion Essence Cloud core banking solution to facilitate their growth.
Fusion Essence Cloud is equipped with fully digital end-to-end capabilities for all key banking services. Finastra’s app marketplace and developer platform, FusionFabric.cloud, provides an extensive range of open APIs and integration, which Tinkoff can use to integrate tools from hundreds of developers and design a system that meets its requirements.
This software-as-a-service (SaaS) includes upgrades, security, 24/7 infrastructure monitoring, incident management as well as disaster recovery services, enabling the bank to focus on its business goals. It will also help to bring to market a powerful new offering and support fast customer acquisition while complying with local regulations.
According to Tinkoff’s International Expansion Lead, George Chesakov, Finastra’s cloud-native open platform is able to meet all their needs in terms of rapid growth in a new market. Meanwhile, Narendra Mistry, chief product officer of Finastra’s Retail International Universal Banking, expressed confidence in the platform’s ability to establish Tinkoff’s digital banking services in the Philippines.
