Partner Onboarding and Commercials
Presentation Context
This session was recorded during Finastra Universe 2021 and presented by Sudhanshu Kwatra, Bussiness Development Manager for the Fintech Ecosystem of FusionFabric.cloud, at Finastra.
Platform Journey
The FusionFabric.cloud platform journey started over two years ago as an Open API platform, running on Microsoft Azure, The purpose of the platform is to solve business problems for financial institutions by connecting the sellers (for example, the fintechs) to buyers (for example, banks). More information about the Platform Journey, you can find at 0:27.
Value of the Platform
The value of FusionFabric.cloud as a platform is to enable the exchange of value between producers of the innovation (fintechs) and consumers of the innovation (banks). The platform provides the necessary APIs to enable development by fintechs and secures the connectivity of banks to consume these fintechs apps. More information about the value of the platform, you can find at 1:37.
Platform Today
Finastra monetizes every fintech app on FusionFabric.cloud. FusionStore is a way for Finastra and fintechs to market solutions to financial institutions. You can see more about where FusionFabric.cloud is today at 2:03.
Connecting Apps on FusionFabric.cloud to Banks
Fintech’s apps can be sold to Finastra’s clients, which can be on cloud or on-premise. When a bank agrees to purchase fintech’s solution, the bank would need to provide the consent to the APIs/SPIs or the datasets. After consent, Finastra will implement a tenant on the client side that will allow bank to consume fintech’s app on the platform. You can find more information about to connect apps on and with FusionFabric.cloud at 2:55.
Capabilities of the Platform
Finastra has different capabilities available on FusionFabric.cloud platform today. These capabilities allow fintechs to connect their solution on the platform to sell their solution to Finastra’s clients. For example, there are APIs and SPIs that connect and extend securely to Finastra’s core products. More information and more capabilities of the platform can be found at 3:31.
Onboarding Journey for Fintechs
The onboarding for fintechs is a four-stage process. You can find more information about the fintechs onboarding process and all stages at 4:27.
Identification
In this first stage, Finastra and the fintech are discovering new opportunities in working together. This interaction can happen via an one-to-one discussion or the fintech has the possibility to discover FusionFabric.cloud in a self-service way by starting by checking Finastra’s Catalog to see what fits their needs. You can find more information about the identification stage at 4:39.
Qualification
The second stage of the onboarding journey is qualification. In this stage, the fintech’s use case or solution is qualified and partnership is formalized. You can find more information about the qualification stage at 5:47.
App Development
The third stage of the onboarding journey is the app development. In this stage, the fintech is performing the app development by connecting to Finastra’s APIs/SPIs or datasets on the platform. You can find more information about the app development stage at 6:46.
App Validation and Sales Enablement
The fourth and last stage is represented by app validation and sales enablement. Once the fintech has completed the development with the platform’s APIs/SPIs or datasets, the app is ready to be published for validation (in readiness to moving to the FusionStore). You can find more information about the app validation and sales enablement stage at 7:33.