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Finastra has formed a Banking-as-a-Service (BaaS) collaboration with Microsoft to provide access to finance for SME’s using Microsoft Dynamics 365.
Under the collabopration, users will be able to unlock lending options within Dynamics 365, using information already stored on the business management platform.
Finastra says the ability to provide banks with additional information, including accounts receivable and payable records, will improve lending decisions and time to cash for SMEs.
The service is initially being launched in the US, tapping into Finastra’s expansive network of over 5,000 financial institutions.
Angus Ross, chief revenue officer, BaaS, at Finastra, says: “This lending proposition for Microsoft Dynamics 365 demonstrates the huge benefit that embedded and contextual finance will bring to the industry and the communities within it.”
The embedded finance platform will be integrated with open APIs through Finastra’s FusionFabric.cloud and is expected to go live in Summer this year.
Financial Services
