Finastra partners with First Independence Bank on digital
A Detroit-based bank has launched a series of digital solutions and products to attract younger customers.
Finastra is partnering with First Independence Bank, providing its Fusion Phoenix Core Fusion Digital Banking, Fusion DepositPro and Fusion TotalTransact, along with other solutions, to offer customers a well-rounded package of products.
First Independence Bank was founded in 1970 and is famous for being the seventh-largest African American owned banking institution in the United States, and one of only two banks headquartered in the City of Detroit. It has heavily invested in local community projects and sees this move as a solution to members of the population who have not been served well enough by traditional banking products.
Elizabeth A. Zuchelkowski, VP, Chief Financial Officer, First Independence Bank, said, “First Independence Bank has been an integral part of the Detroit community for 50 years, with an affinity for supporting our under-served and minority populations.”
She explained the development was part of the ongoing redevelopment of Detroit, which has suffered a catastrophic socio-economic downturn following the collapse of the local motor industry. “As Detroit continues to undergo a true renaissance, we recognise the need to offer modern banking services to appeal to an evolving demographic that is shifting increasingly younger,” said Zuchelkowski.
“By offering our account holders a single, seamless, and easy-to-use banking experience we will better serve our existing customer base while appealing to that more technologically-driven demographic.”
She went on to say that the importance of the digital channel became even more apparent following the COVID-19 pandemic. The comprehensive, cloud-based platform is built on Microsoft technology, resulting in an intuitive user interface and easy access to data and reports.
Chris Zingo, SVP and GM of Americas Field Operations, Finastra, said, “Finastra believes that financial institutions and technology vendors have a responsibility to redefine finance for good, and we are always excited to work with banks that share our passion.”
He added; “First Independence Bank had a clear vision for the type of service it needed to provide in order to exceed the expectations of its customers and best serve its local community. We were able to work closely to help make this vision a reality by creating a suite of solutions – from core and digital to account opening, bill payment and more – to deliver a flexible, robust and fully integrated set of banking capabilities. This not only met the bank’s specific needs and budget requirements, but it also promises to drive a strong return on investment and an enhanced customer experience.”
The Ultimate FinTech & InsurTech LIVE Event
From October 12th-14th, 2021, BizClik’s FinTech & InsurTech event will bring together influential executives from around the world. Streamed live from Tobacco Dock, London, this three-day event will be an excellent way to finish the year strong, gaining the confidence your company needs to move forward into the future.
With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, FinTech & InsurTech 2021 will expand your network, deliver insight, and enhance your organisation’s reach.
Already confirmed speakers include Colin Payne, VP & NextGen FS Global Lead at Capgemini; Dipu KV, President and Head of Operations & CX at Bajaj Allianz General Insurance Company; Bryan Caroll, CEO at TNEX; and Lucy Demery, Managing Director at Barclays.
The event will include:
- Keynote addresses from respected industry leaders
- Dynamic live roundtables (inc. Q&A)
- Fireside discussions
- Inspirational Speakers & Presentations
- Extensive networking opportunities
Meet the Speakers
Each week, from now until the event, we’ll be announcing the latest speakers who are set to grace our physical or virtual stage, prepared to share their knowledge and insight with attendees.
Our second batch consists of:
Currently the Senior Vice President of Business Development & Fintech for Mastercard UK & Ireland, a position he’s held since 2014, Abraham describes himself as “a proven and successful senior sales leader with experience across a wide range of industries, sectors, and channels.”
Graduating from the University of Northampton in 1994 with a BA in Economics and Law, he worked for nine years at Sainsburys - eventually responsible for banking the company’s revenue and running its ATMs - and then Barclaycard for three years as Head of Client Management. In 2007, Abraham became VP of Client Management at American Express, and then VP and GM Global Supplier Relations EMEA in 2012.
In his current role at Mastercard, Abraham is accountable for the acceptance of all payments and products through all channels, devices, and technologies across UK and Ireland. In addition, he oversees the deployment of innovative new payment tech within the region.
Fraser-Hawkins’ role as CEO, UK Corporate, at Marsh McLennan is the continuation of a long and successful insurance career, which has included being London Sales Director for JLT Group and Branch Director for Willis Towers Watson.
Marsh prides itself on being a company that hires top-tier talent, does work that impacts peoples’ lives, and offers its employees the opportunity to make a difference. This is clearly an attitude that aligns with Fraser-Hawkins’ own values; regarding the insurer’s UK Young Professionals initiative, a support network to help young professionals in their development, he said:
"I am passionate about developing talent and our Young Professional CRG provides a brilliant community for our Young Professional colleagues to discuss key issues relevant early in their careers, as well as an environment to promote the skills, learning and network for success."
Massaro is currently the CEO of Boston fintech Flywire, a role he took on in 2013. He first joined the team in 2012 as VP of Business Development, but it wasn’t long before his entrepreneurial skills were redirected to leading the entire company’s high-growth strategy worldwide.
An expert in domestic and international payments and billing, enterprise technology sales, strategic alliances, enterprise software, SaaS, product management and marketing, and much more, Massaro is a consummate finance professional whose credentials befit the leadership of a prominent global payments fintech.
His previous positions include Consultant at PwC and Product Line Manager at Oracle, and he maintains a Mentor role at startup accelerator MassChallenge. He graduated magna cum laude from Babson College with a BS in Information Systems and Finance.
This event is set to be one of the year's most unmissable. If you want to get leading perspectives on the future of fintech and insurtech, go to Eventbrite and purchase your tickets now.