Finastra's Retail Lending Online Marketplace

Finastra has launched its Solution Store, a digital marketplace designed to revolutionize how customers access retail lending solutions. Available 24/7, this platform eliminates the need for traditional procurement hurdles like meetings or contracts.

Now, Finastra users can select and secure software directly through the Customer Success Community portal and receive immediate purchase confirmation via email.

Keith McLendon of FLC Bank praises the Solution Store, emphasizing its convenience amid busy schedules. The store currently features 30 retail lending products, including Finastra Compliance Reporter and Data Insights, expected to grow to over 65 soon. Training for key products such as Mortgagebot and LaserPro is also just a click away.

Michael Kinney of Finastra declares the store an extension of their commitment to open finance, offering institutions the tools and training needed efficiently.

Our Opinion:

The launch of Finastra's online marketplace for retail lending solutions provides an excellent opportunity for alternative lenders to diversify their service offerings, improve their efficiency, and collaborate with innovative players. However, they would need to manage the increased competition, risks, and potential for unequal opportunities. As the lending industry continues to evolve, these stakeholders must remain adaptable and proactive in adopting suitable solutions for their operations and clients.

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