London, UK, June 7, 2021 – Abaka, an AI driven digital savings and retirement solutions platform, today announced that its Abaka’s AI-powered Next Best Actions application is available for purchase through Finastra’s FusionStore. The retail banking application will enable financial institutions to benefit from an AI-driven recommendation engine, by building a truly customer-centric ecosystem across their range of products and services.
Going live on FusionStore marks the final stage of the app development journey for firms using Finastra’s open development cloud platform, FusionFabric.cloud. The FusionStore marketplace enables Finastra’s customers worldwide to access, test, purchase and deploy certified apps on top of Finastra core systems, helping them to quickly realize the benefits and deliver added value to their customers.
Built on Finastra’s industry-leading core technologies and harnessing an extensive catalog of open APIs, Abaka has developed an innovative solution that brings together a financial institution’s relevant customer data augmented with other sources for enhanced insights. Based on collected data, the AI-engine predicts what ‘Next Best Action’ will resonate and activates a customer response. It delivers it to the right people, at the right time and through the right channel using a curated content feed platform, via personalized emails, push notifications or social media. It comes pre-integrated with Finastra’s Fusion Equation and Fusion Essence solutions for faster deployment and reduced implementation cost.
Fahd Rachidy, CEO and Founder of Abaka, said, “The arrival of big data, AI and machine learning is now starting to revolutionize traditional marketing and the customer journey management processes. The gathering, analysis and application of large amounts of behavioral and demographic data is providing companies with a richer understanding of their existing and target customers. The integration with Finastra’s FusionFabric.cloud significantly accelerates how banks can access and mine data to deliver hyper- personalized digital experiences to their customers at scale.”
Vincent Pugliese, SVP and General Manager of Platform at Finastra commented: “A new app hitting the FusionStore is an exciting moment for us and our partners. It marks the point at which an innovative idea becomes a reality that can benefit financial institutions worldwide. Our customers are seeking out innovation from fintechs like Abaka, which they want to consume quickly and easily through the FusionStore. We welcome Abaka to the FusionFabric.cloud platform as we continue building the next wave of financial services solutions in collaboration with our partners.”
Using Finastra’s open APIs, developers can create solutions that address business challenges across the financial services spectrum, including retail banking, payments, transaction banking, corporate banking, lending, treasury and capital markets. Visit FusionStore for more information: https://store.fusionfabric.cloud/
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ABAKA has created an AI-driven recommendation engine that gives the financial industry the means to engage with their customers and to create hyper-personalized experiences through predictive Next Best Actions and Intelligent Nudges. Harnessing the power of Machine Learning and Natural Language Processing, ABAKA’s AI-powered Next Best Action augment customer data with other sources of data to predict and deliver the relevant Next Best Action to the right customer, through the right channel, at the right time. Our solutions help clients like HSBC, Prudential Asia and over 10 million customers and policy holders to receive hyper personalized recommendation on products such as credit cards, loans, savings, retirement, life and non-life insurance.
Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com.
FusionFabric.cloud is a scalable, open and collaborative development platform built by Finastra. The secure and proven cloud platform encourages innovation, opening up the company’s core systems through APIs so that third parties can develop applications on top. Fintechs can quickly build and promote apps worldwide. Financial institutions can access or create new services, which their customers are demanding, faster. Visit fusionfabric.cloud
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