Finastra launches pre-packaged payments solution for small and mid-sized banks

Fintech company Finastra has revealed Fusion Payments To Go – its payments solution aimed at small and medium-sized banks looking to implement domestic and cross-border payment services in Europe, the US and South Africa.

The solution comes pre-packaged, with reduced fixed implementation costs, and scalable deployment in the cloud on Microsoft Azure. Banks will benefit from reduced costs and risks associated with system maintenance, whilst meeting changing market regulations and customer demand for frictionless and immediate payments. 

Built on Finastra’s payment hub, Fusion Global PAYplus, Fusion Payments To Go provides best-practice functionality and operating rules for supported clearing and settlement mechanisms, along with standard integration to external applications. It removes the need for expensive scheme maintenance, meaning that banks can redirect these funds towards the delivery of new business services.

Fusion Payments To Go is available to mid- and small-tier banks in Europe interested in implementing RT1 and/or TIPS immediate payments, as well as the FED and TCH immediate payment schemes in the US, with other schemes to follow. It also supports banks worldwide looking to implement SWIFT.