Flagstar Bank Selects Fiserv Finxact for Core Banking Modernization
Fiserv and Flagstar Bank on Aug 17, 2026, announced that Flagstar has selected Finxact, Fiserv's cloud-native core banking platform, as the cornerstone of its core modernization strategy. Finxact will serve as Flagstar's next-generation system of record and transaction processing engine, replacing legacy technology. The platform is a key component of Flagstar's S2 Platform, the bank's unified technology transformation initiative.
Flagstar plans to migrate to a single, consolidated core through phased conversions. Finxact's API-first architecture supports real-time transaction processing, eliminating end-of-day batch reconciliation. Flagstar Bank, with $87.7 billion in assets as of Jun 30, 2026, is one of the largest regional banks in the United States.
Financial terms were not disclosed.
- Reinforces Fiserv's Finxact as a leading cloud-native core for large U.S. bank modernization deals
- Signals continued momentum in core banking replacement cycles among mid-to-large banks