Financial software solutions provider Finastra has launched a new platform to harmonise origination for deposits, loans and mortgages.
The platform, called Fusion Originate, is designed to handle mortgages, loans and deposit account applications for both consumers and businesses.
Fusion Originate can also integrate with several loan origination and core banking systems to enable real-time on-boarding.
Additionally, it is equipped with features to combat fraud and ensure compliance.
The introduction of Fusion Originate is expected to benefit back office operations of banks and credit unions.
Finastra Mortgage & Lending Solutions vice-president and general manager Steve Hoke said: “Financial firms have historically had to use different systems for originating loans, deposits and mortgages, creating different internal processes as well as inconsistent user experiences for account holders.
“Fusion Originate changes all that. This is a unique offering in the market, providing a single solution for the full spectrum of origination types, so financial institutions can set up their entire digital channel with a common look and feel.”
The new solution represents the consolidation of several of Finastra’s lending and account opening solutions. These offerings will continue to be available independently.
However, Finastra clients will have the option to upgrade to the complete Fusion Originate suite.
Headquartered in the UK, Finastra focuses in delivering technology and services to financial institutions of all sizes.
In March this year, US-based innovation platform Plug and Play partnered with Finastra to fuel innovation.