Commercial Terms
Developer Registration
Developer registration is free for both fintech companies and financial institutions that onboard FusionFabric.cloud.
Access Due Diligence
In order to provide the highest possible standards, Finastra will perform due diligence on your registration before granting you with access. This check may vary depending on responses.
Fintech Companies Terms - Revenue Sharing Model
Finastra will invoice you directly for Finastra’s revenue share as per your customer deal details reported to us using online form: Billing Form Data Collection
App Validation
To ensure the highest quality standards, all apps published to FusionStore must pass a validation process described in Platform Deep Dive.
There are three onboarding stages on FusionStore: Coming Soon, In Store and In Market. For each onboarding stage, specific activities must be performed.
Find out more details in the Onboarding Stages section of the Platform Deep Dive guide.
Security Review
For the security review apps fall into two categories:
- Level 1 - Reads financial data.
- Level 2 - Updates financial data or accesses Personally Identifiable Information (PII).
Finastra requires, at a minimum, an annual standard validation bucket for apps that fall into level 1, and an annual advanced validation for apps in level 2. You are required to pay the cost of the validation procedure, as set out here.
Validation bucket | Activities | Total cost |
---|---|---|
Standard |
|
$5,000 |
Advanced |
|
$14,000 |
Premium |
|
$20,000 |
Release Validation
Each time you submit a new release of your app in FusionStore, a release validation process takes places, incurring costs as follows:
Activities | Applicable Validation Buckets | Total Cost | |
---|---|---|---|
Low-Impact Change |
|
Free | |
Medium-Impact Change |
|
Advanced, Premium | $2,000 |
High-Impact Change |
|
Advanced, Premium | $5,000 |
Financial Institutions Terms - Innovation Platform
Financial institutions may use FusionFabric.cloud to internally develop apps and use them with their own tenants, thus using FusionFabric.cloud as their own innovation platform.
These may not be published to FusionStore, and Finastra may not apply the validation process and fees to them.
The pricing model in this case is based on a monthly usage fee plus API call charges, where applicable, if the financial institution uses the apps in production tenant.
Innovation platform pricing for financial institutions (FI) | Sandbox only | Band 1 | Band 2 | Band 3 | Band 4 | Band 5 |
---|---|---|---|---|---|---|
Max number of FI developed apps in production tenants | 0 | 1 | 2 - 5 | 6 - 10 | 10 - 15 | 16 - 30 |
Number of applications in Sandbox | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
Number of applications in FI non-production tenants | 0 | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
Number of registered developers | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
Number of API calls per month | Unlimited | <80K | <250K | <500K | <1M | >1M |
Platform usage fee per month | 0 | $500 | $1,500 | $5,000 | $12,000 | $25,000 |
Monthly API call allowance included in the platform usage fee | Unlimited | 5,000 | 80,000 | 250,000 | 500,000 | 1,000,000 |
Extra API calls for non-sandbox apps (fee applicable per extra call over monthly allowance) | N.A. | $0.03 | $0.015 | $0.007 | $0.0035 | Negotiated |
Cloud Connector | N.A. | Included | Included | Included | Included | Included |
On-Prem Gateway | N.A. | NO | Included | Included | Included | Included |
Custom APIs | N.A. | NO | NO | $5,000/API | $5,000/API | $5,000/API |
Note that access to the Sandbox tenant is free and unlimited for any number of applications. However, the API consumption is limited to a fair usage policy.
Datasets Pricing
If your app subscribes to datasets, in addition to the revenue share model detailed in the previous section, additional fees apply based on the datasets volumes.
These fees apply to the financial institution that shares the datasets to your app, and are bucketed to size and update frequency.
Below you can find the datasets pricing, billed annually.
Total Data Size (MB) | If Daily Updates (365) | If Weekly Updates (52) | If Monthly Updates (12) | If Quarterly Updates(4) |
---|---|---|---|---|
0 - 70 Gb | $7,133 | $1,017 | $235 | $79 |
70.1 - 150 Gb | $8,534 | $1,216 | $281 | $94 |
150.1 - 300 Gb | $11,162 | $1,591 | $367 | $123 |
300.1 - 500 Gb | $14,666 | $2,090 | $483 | $161 |
500.1 Gb - 1 Tb | $23,842 | $3,397 | $784 | $262 |
1.1 Tb - 1.5 Tb | $32,668 | $4,655 | $1,075 | $358 |
1.51 Tb - 2 Tb | $41,486 | $5,911 | $1,364 | $455 |
2.1 Tb - 2.5 Tb | $50,305 | $7,167 | $1,654 | $552 |
2.51 Tb - 5 Tb | $100,251 | $14,283 | $3,296 | $1,099 |
5 + Tb | $135,532 | $19,309 | $4,456 | $1,486 |
Datasets pricing includes a data ingestion tool for use by the financial institution. The data ingestion setup process is completed one time as part of uploading the sample dataset. Once the setup process is complete, the financial institution will execute data ingestion from their system to FusionFabric.cloud at their desired frequency (quarterly, monthly, weekly, daily).
The data ingestion solution is an ETL (Extract-Transform-Load) software that:
- Extracts the data from the core system.
- Transforms the data into the target data format (JSON, FusionFabric.cloud dataset).
- Loads the data into the FusionFabric.cloud data lake.
The solution is documented and it can be installed and configured by the financial institution staff.
In the case that Finastra support is requested for the implementation of the data ingestion solution, on behalf of the financial institution, the cost is $15,000 per product-dataset, within an average of 15 man-days workload. The exact cost is calculated by Finastra based on the financial institution geographical location and it is communicated upon contract signing.