Finastra Launches Fusion Phoenix Core Banking Platform in the Cloud
On February 19, 2020, Finastra announced the availability of its Fusion Phoenix core banking platform in the cloud, hosted on Microsoft Azure. Commerce National Bank & Trust and Commencement Bank signed on as the first U.S. customers of the cloud-based offering. The platform supports retail banking operations and aims to give community and mid-sized banks faster innovation cycles and reduced infrastructure costs.
By moving to a cloud-native deployment, Finastra enables its bank clients to more easily integrate with fintech partners and pursue embedded finance strategies. The partnership with Microsoft Azure provides enterprise-grade security and scalability. This launch reflects the broader industry shift toward cloud-based core banking, a foundational layer for Banking-as-a-Service models.
Financial terms of the customer agreements were not disclosed.
- Cloud-native core banking accelerates BaaS readiness for community banks
- Finastra strengthens its position as an infrastructure provider enabling embedded finance for smaller institutions