Financial software provider Finastra has integrated fintech Prelim with its Finastra Phoenix core solution to augment retail and commercial deposit account opening. Prelim enables financial institutions to digitise the customer experience by automating the application process and internal operations such as reviewing, processing, underwriting, and servicing.

From onboarding deposit customers to provisioning treasury services and originating select credit products, Prelim's technology helps make account opening faster, reduces back-office complexities, and provides a more seamless and enhanced customer experience for account holders. Streamline account opening with seamless API integration Through Finastra's Open Finance ecosystem, Prelim integrates seamlessly with Phoenix APIs, enabling the creation of new accounts for both new and existing account holders. These accounts are then reflected within the digital banking solution, providing a cohesive user experience.

This comprehensive integration allows financial institutions to efficiently onboard new accounts and services, ensuring a smooth and streamlined process. Officials from Prelim said customers expect an easy to use, real-time onboarding process when applying for a new financial product or service. They're happy to be partnering with Finastra to help accelerate retail and commercial deposit account opening for financial institutions around the world.

In a reply, representatives from Finastra said that in a digital-first society, consumers and businesses expect their financial solutions to be agile and transform as needed to keep pace with their needs. As they look to continuously enhance their offerings, Prelim is a trusted partner to support this transformation and their Open Finance ecosystem. They look forward to working together to deliver the innovations community banks and credit unions across the United States need to stay ahead of the competition.

What does Finastra do? Finastra is a global provider of financial services software applications across lending, payments, treasury and capital markets, and universal (retail and digital) banking. Committed to unlocking the potential of people, businesses, and communities everywhere, its vision is to accelerate the future of open finance through technology and collaboration. More information about Prelim Prelim is a fintech company providing digital account onboarding solutions for more than 100 financial products and services.

It empowers banks, credit unions, and other financial institutions such as Axos Bank, City National Bank of Florida, Bank of California, and more to digitise the customer journey from onboarding to servicing, making it easy for employees to better serve customers by automating operations. Built by banking experts, Prelim's flexible, open architecture platform delivers a better customer experience through process automation for identity verification, issuing services from the core, and more. Source: Link .