InfoTech Group, a leading systems integrator and software provider, has extended its association with longtime partner, Finastra, a global provider of financial software applications and marketplaces, to offer Finastra’s next-generation advanced core banking solution, Fusion Essence, to banks in Pakistan.
Uniquely combining advanced technology with rich, broad and deep functionality, Essence provides banks with an agile platform for growth that comprehensively covers both Islamic and conventional Retail and Commercial banking.
The extension of this partnership builds upon InfoTech’s deep experience implementing Finastra’s trade and corporate banking solutions, as well as its unparalleled expertise, product knowledge and banking domain experience.
The transformative power of Fusion Essence will enable banks to deliver a unique banking experience by ensuring superior customer engagement and greater operational efficiency.
Essence brings together digital end-to-end capabilities, core banking, Finastra’s open ecosystem, robust APIs, analytics, AI, and ML, which make it ideal for banks looking to go digital or accelerate their digital strategy.
Asim Haque, Chief Operating Officer, InfoTech, commented, “For new digital banks about to commence operations in Pakistan, Essence is the ideal solution. Built from the ground up on digital and open technologies, the unique combination of sophisticated banking functionality and advanced technology ensures that Essence can deliver the shortest possible time to market with innovative products and services.”
“In addition, the solution’s proven scalability enables financial institutions to grow their business without worrying about IT. InfoTech is pleased to add this solution to our portfolio and offer it as an integrated solution to new digital banks.”
Finastra’s core banking solution provides truly digital end-to-end capabilities for all key banking services. Leveraging cloud, Essence helps banks achieve superior levels of efficiency and security compared to traditional on-premise infrastructure, as well as optimize resources, minimize effort, and scale up and down as needed.
Essence enables banks to deliver a highly personalized customer experience to attract and retain business, whilst integration with Finastra’s app marketplace and developer platform, FusionFabric.cloud, means banks can consume innovation from the ecosystem, integrate tools from hundreds of developers, and rapidly compose a system tailored to its requirements.
Keith Redding, Chief Revenue Officer, Universal Banking, Finastra, stated, “Banking is sophisticated and evolving, so whether banks are reacting to shifting regulation or new competition in the market, Essence provides an agile, scalable, functionally rich platform to address their needs today and in the future.”
“For more than three decades, our cutting-edge solutions covering Islamic and conventional finance have helped hundreds of clients across the region. We are pleased to expand our partnership with InfoTech to help even more banks in Pakistan reap the benefits of digitalization.”