Silvergate Financial institution to increase its monetary infrastructure with an API-enabled fee platformNew York, February 26, 2019 – Silvergate Financial institution has chosen Finastra’s Whole Funds to increase its progressive monetary infrastructure with an API-enabled answer for fee processing.With a technology-focused method and a savvy buyer base, Silvergate sought a know-how accomplice that complemented its progressive method to leveraging open APIs and innovation to supply main monetary options. The San Diego-based financial institution serves the digital foreign money trade and is well-positioned to proceed to innovate its service choices with a fee platform method.“With greater than 500 digital foreign money and Fintech clients utilizing our platform to scale their enterprise, Silvergate understands the significance of offering its purchasers with strong know-how options,” stated Chris Lane, Chief Operations Officer, Silvergate Financial institution. “Finastra’s API-enabled fee platform working within the cloud reinforces our deep-rooted dedication to regulatory compliance whereas guaranteeing we’re providing probably the most progressive options available in the market.”With Whole Funds, Finastra’s cloud-based fee platform powered by Microsoft Azure, Silvergate Financial institution will be capable of higher be sure that it’s delivering on its promise to be compliant with the most recent regulatory necessities. The agile platform, which is constructed on trendy structure and comes API-enabled, lends itself to future enlargement, permitting the financial institution so as to add progressive companies simply, as applicable. The platform mannequin additionally helps guarantee regulatory compliance throughout the answer with continuous, well timed updates round laws, requirements, and clearing connections, all managed by Finastra.“Silvergate Financial institution’s imaginative and prescient for Fintech innovation aligns with our personal,” stated Chris Zingo, Managing Director, Americas, Enterprise Markets, Finastra. “We stay up for working carefully collectively to ensure that the financial institution is delivering probably the most strong fee options to its clients, evolving options and performance to fulfill and exceed buyer expectations. The platform’s strong API layer and cloud-based supply mannequin make it fast and simple so as to add performance—created inside Finastra or externally.”Finastra’s Whole Funds helps monetary establishments enhance customer support, simplify fee operations, and cut back working bills by consolidating all funds and fee information. It supplies a whole set of built-in capabilities to automate all the fee lifecycle. By connecting a number of channels, consolidating fee methods, and decreasing the quantity and complexity of back-office interfaces, the platform permits monetary establishments to extend straight by processing and total operational effectivity.“The benefit a fee platform supplies is {that a} single answer can deal with each fee kind, with a constant set of instruments and interfaces to streamline the expertise of a financial institution’s clients,” stated Gareth Lodge, analyst, Celent. “The cloud provides further advantages past the apparent cost-effectiveness. The financial institution can activate new performance at their will, scale the answer as funds volumes develop, and replace to fulfill new regulatory necessities with no downtime.”-ENDS-For additional info please contact:CAROLINE DUFFGlobal Head of PRT +44 (0)20 3320 5892E [email protected] KILHANEYPublic & Analyst Relations Supervisor, Finastra T: 917-286-1053E: [email protected] FinastraFinastra unlocks the potential of individuals and companies in finance, making a platform for open innovation. Fashioned in 2017 by the mixture of Misys and D+H, we offer the broadest portfolio of economic companies software program on this planet right now—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our options allow clients to deploy mission crucial know-how on premises or within the cloud. Our scale and geographical attain signifies that we will serve clients successfully, no matter their dimension or geographic location—from world monetary establishments, to group banks and credit score unions. By means of our open, safe and dependable options, clients are empowered to speed up progress, optimize price, mitigate danger and frequently evolve to fulfill the altering wants of their clients. 90 of the world’s high 100 banks use Finastra know-how. Please go to finastra.com.