First Citizens Bank of Iowa and Minnesota moves to the cloud with Finastra
US-based First Citizens Bank of Iowa and Minnesota has expanded its collaboration with long-time partner Finastra to migrate its Fusion Phoenix core solution from on-site hosting to the cloud.
First Citizens Bank of Iowa and Minnesota extends partnership with Finastra
With its new core functionalities, the bank aims to improve its operational efficiencies, automate internal processes and deliver a better customer experience.
First Citizens Bank says it was looking for a core banking solution “adaptable to a fast-moving and ever-evolving market”. Available in the cloud via Microsoft Azure, Finastra says its core banking solution, Fusion Phoenix, accelerates time to market and opens up a “low-cost path” to deploy new products and open banking functionalities.
Keith Redding, chief revenue officer, universal banking at Finastra, says Fusion Phoenix’s open model “gives the bank the flexibility it needs to compete with the larger banks while quickly adapting to emerging opportunities”.
Joleen Fleming, chief operations and retail officer at First Citizens Bank, says that through the migration to cloud, the bank will be able to “focus even more closely on delivering financial well-being for everyone”.
