Climate First Bank selects Finastra software to deliver values-based banking

Using Finastra’s Fusion Phoenix core banking system, Fusion Digital Banking, Fusion Total Lending, and other solutions for payments, analytics, and more, the de novo bank will be prepared to launch as a full-service community bank in Spring 2021. Initially servicing the Tampa/St. Petersburg region, Climate First Bank (I/O) will provide banking services as well as invest in the future by offering climate-focused programmes, including a solar loan option. The bank’s mission is to elevate the typical banking model by supporting local communities, encouraging green infrastructure, and promoting sustainable business practices. Carbon neutral from the day it opens, the bank’s programmes will Drawdown levels of atmospheric CO2 to reverse the existential climate crisis that threatens our planet and our lives. By fulfilling a growing demand for more socially responsible institutions, Climate First Bank (I/O) will expand to become the largest and most profitable eco-conscious and values-based institution in the Southeastern United States.

In addition to the value of Finastra’s complete suite of banking solutions and strong CSR programme that aligns with Climate First’s corporate mission and values, Finastra’s strategy and commitment to Open Finance was an important factor in the bank’s decision process. It is vital that the bank has the agility and flexibility to work with fintechs that enhance its ecosystem of customer-facing solutions. Finastra’s FusionFabric.cloud developer platform and marketplace for financial solutions, as well as the Fusion Phoenix core banking system, are built entirely on Microsoft technology with a progressive open API architecture, which fits well with the bank’s vision. As a result, the bank will be able to continue to evolve its product offering, leveraging third-party fintechs that meet the bank’s needs. Climate First has already selected the Allied Bill Payment app from Allied Payment Network, a third-party provider of real-time bill payment, which is available through the FusionFabric.cloud store and integrates seamlessly with Fusion Digital Banking.