Finxact, a next-gen core banking platform provider owned by Fiserv, and Canada-based Zafin have joined forces to help financial institutions strengthen capabilities and support core banking transformation.

Zafin is a software as a service (SaaS) core modernisation and transformation solutions firm,

Through the partnership, Finxact and Zafin aim to transform the way financial organisations approach core transformation projects.

Established in 2002, Zafin offers an integrated platform and features designed to optimise operations, boost revenue, increase profitability, and improve customer experiences for banks around the world.

The firm’s enterprise product and pricing capabilities are said to provide a comprehensive full view of a customer’s relationship with a financial institution.

It empowers financial organisations in launching real-time, responsive product, and pricing strategies across multiple product systems.

Zafin strategic partnerships global head Chris Dickin said: “Our partnership with Finxact is a game changer, bringing essential product and pricing capabilities across all product systems.

“By integrating our platform with the Finxact next-gen core banking platform, we offer financial institutions a faster way to core modernisation and, more importantly, the ability to achieve business outcomes quickly.”

The partnership between the companies is expected to offer better opportunities for banks currently utilising disparate core systems by providing them with Finxact as their ultimate core solution.

Besides, the collaboration enables banks to maintain and enhance comprehensive relationship-based insights and pricing mechanisms for their customers throughout and beyond their transition to Finxact.

It is expected to ensure a smooth migration process without compromising customer engagement.

Finxact partnerships head David Ortiz said: “Zafin and Finxact are teaming up to provide an integrated offering to meet a critical need, a pressing requirement of the largest financial institutions that manage millions of customer relationships.

“With the visibility and responsiveness that the Zafin platform enables, financial institutions can offer true relationship banking at scale. Together we are providing these institutions an enduring competitive advantage that will extend the customer lifetime value.”