UK-based Finastra offers software architecture for FinTech developers in banking, corporate, institutional, and retail spaces to embed various banking and lending services in their apps and websites. It includes solutions for retail banking, lending, transaction banking, and payments, among others. The company’s customer base ranges from leading global banks to community banks and credit unions.
The company’s complementary offerings include a high-value service support through “Finastra Managed Services,” where subject matter experts support users in developing financial software, and a range of services under its “Finastra Select” service portfolio, including client advisory, support services, and collaborative design support.
Finastra also offers the “FusionStore” marketplace for financial institutions (FIs) to embed apps built by third parties, to their FinTech solutions built on Finastra’s infrastructure. This included the “Allied Bitcoin Wallet” launched in September 2021 to enable FIs to let their customers buy, sell, and hold Bitcoin.
Finastra opened a Center of Excellence (COE) at Malaysia’s MRANTI Technology Park in November 2022, to expand its software solutions usage in the Asia Pacific. This expansion was reportedly supported by Vista Equity Partners (an investor in Finastra) having a strong presence in Malaysia with over a dozen companies active in the country.
Key customers and partnerships
As of January 2023, the company had more than 8,600 customers, including 90 of the top 100 global banks.
In July 2024, the company partnered with CredAble, a working capital finance platform, to integrate supply chain finance capabilities into Finastra's Trade Innovation platform.
The company entered a banking-as-a-service (BaaS) collaboration with Visa in September 2022, to enable Finastra’s bank and financial institution (FI) clients to offer cross-border payouts via “Visa Direct.” The banks and FIs will be able to serve SMEs and individuals in several currencies and countries
Finastra generated USD 1.9 billion in revenues in 2020.
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