Finastra offers comprehensive solutions tailored for financial services, enhancing core processes and driving innovation. It supports digital transformation through specialized tools that cater to dynamic industry needs.
| Product | Mindshare (%) |
|---|---|
| Finastra | 5.7% |
| Temenos Transact | 12.2% |
| Mambu | 9.4% |
| Other | 72.7% |
Finastra is a leader in financial software solutions with a strong focus on operational efficiency and customer-centric technologies. Its innovative platforms facilitate digital banking, simplify trade finance, and optimize lending tasks. Designed to fit multiple financial segments, its adaptive technology fosters agility in a rapidly changing marketplace.
What are the key features of Finastra?Finastra solutions are designed for diverse financial industry sectors, including banks and credit unions looking to modernize their technology stack. For instance, retail banks can integrate digital banking offerings to match customer expectations and drive engagement, while corporate banks may focus on efficient trade finance management to streamline operations. This adaptability addresses sector-specific challenges and opportunities.
| Author info | Rating | Review Summary |
|---|---|---|
| Senior Test Engineer in Payments and Trade Domain at a tech vendor with 10,001+ employees | 4.0 | I use Finastra for trade and finance, finding its reporting dashboards efficient and overall user-friendly. While recent releases had minor bugs, support is good. I recommend it, rating it eight out of ten. |
We mainly use Finastra for trade and finance, initiating LCs and documentary collections, and we validate postings and report validations.
I'm part of the testing team and not involved in the deployment, so I mainly focus on testing activities rather than the deployment process.
I provide support as a user for a UK bank using Finastra application.
The dashboards we are using for getting reports based on transactions can mean higher efficiency.
What stands out about Finastra is that it supports more than 8,000 customers in various streams, including payments, trade finance, and supply chain management, which I have mostly worked on.
In terms of support quality and speed, they support us well, but in recent releases, we found some unusual bugs generated, which we have raised, especially regarding alignment issues.
I have been using Finastra TI application for the past five years in my career. Before that, I worked in GPP, Global PayPlus, which is also a Finastra application that serves as a payment hub.
When we face any issues, we raise a ticket to Finastra, and then we track it, depending on the issues, using a separate tracking portal on a daily or weekly basis based on severity and priority.
For the support team, I would give them a score of eight out of ten.
Positive
The deployment is moderate at first, but while practicing with the application, it becomes quite easy.
I'm working for a client using Finastra, so I'm not exactly aware of the license cost as that is handled by a different team.
I have used a third-party application called Demica for supply chain management, but I think Finastra TI is structured much better than Demica's portal for open account-related tasks.
Finastra is user-friendly, and I don't find any drawbacks or negatives on it, so banking people can definitely feel good working on that application.
Finastra can contact me about this review to tell them that I left it and provide them with my info if they request it.
I am interested in being a reference for Finastra, allowing their marketing department to contact me later.
On a scale of one to ten, I rate Finastra an eight.
