COLUMBUS, Ohio, Nov. 07, 2022 (GLOBE NEWSWIRE) — Finastra, a global provider of software applications and financial marketplaces, and Jifiti, a leading global fintech company, today announced a collaboration aimed at extending integrated financing capabilities to all financial institutions in the Finastra BaaS (Banking as a Service) ecosystem. Banks will be able to offer financing offers to consumers through point-of-sale merchants, providing a better digital customer experience and better choice for end users.
Buy Now, Pay Later (BNPL) is a key part of the growing integrated financing space, and with Jifiti’s white-label platform, financial institutions can easily integrate financing or split payment offerings with any large-scale merchant point of sale – online, in-store, and through the call center. Financial institutions working with Finastra to power core banking capabilities will benefit from the pre-integration of Jifiti’s platform with Finastra’s systems. Simple cloud deployment is available through Finastra’s FusionFabric.cloud open development platform.
“Complementing the recent launch of our BaaS integrated consumer lending proposition, we look forward to leveraging Jifiti’s best-in-class retail POS solution to give financial institutions a simple way to provide an integrated and seamless financing offering with a fully digital-first experience,” commented Jeannette Kescenovitz, Sr. Director Solution Management, BaaS & Orchestration at Finastra. “This decision further strengthens our BaaS proposition at Finastra and is part of our commitment to be a leader in financial services.”
Jifiti’s modular platform supports all point-of-sale financing options, including installment loans, lines of credit, split payments, and B2B financing. Since the platform is white-labeled, financial institutions and merchants retain full ownership of customers and data.
“At Jifiti, we are committed to facilitating responsible, accessible and affordable financial solutions, and have always viewed banks and financial institutions as the future of BNPL. We are excited to work with Finastra to help financial institutions transform their consumer finance programs and promote their own brands to end users at any point of sale,” said Yaacov Martin, CEO and Co-Founder of Jifiti.
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open innovation platform, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing solutions and services awards in the areas of loans, payments, treasury and capital. Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as integrated finance and banking as a service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by around 8,600 institutions, including 90 of the world’s top 100 banks. For more information, visit finastra.com.
Jifiti is a leading fintech company powering point-of-sale financing for banks, lenders and merchants. The company’s Buy Now Pay Later (BNPL) white-label platform provides banks and lenders with industry-leading technology to easily deploy and scale their competitive consumer lending programs at any point of sale across the globe. merchant – online, in-store and via call center. With its multinational presence, Jifiti provides end-to-end point-of-sale financing solutions to global brands in any international market. Jifiti works with leading financial institutions including Mastercard, Citizens Bank, CaixaBank, Credit Agricole and retailers such as IKEA, Walmart and others around the world.
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