Finastra and Liquid sign global agreement to help banks integrate cryptocurrency services
Liquid’s Quick Exchange app to be made available through Finastra’s Fusion Essence core banking solution
Singapore – 13 December, 2021 – Finastra and Liquid have today announced plans to make Liquid’s Quick Exchange (QEX) app available through Finastra’s open developer platform and app store, FusionFabric.cloud. Through integration with Finastra’s Fusion Essence core banking solution, QEX will enable banks to meet rising interest in cryptocurrency by offering services including buying, swapping and payments.
QEX provides bank customers with access to over 150 cryptocurrencies, enabling them to buy and trade instantly in a simple, fast, and secure manner. Customers benefit from Liquid’s highly competitive fee structure and the platform provides flexibility for traders, offering low minimum order requirements and the ability to lock trade rates for up to two minutes. The platform can easily be integrated with Finastra’s Fusion Essence core banking solution through open APIs and its low friction KYC process helps banks to keep customers in their ecosystem. This means customers can access the burgeoning crypto market without leaving their familiar, trusted banking environment.
“Interest in cryptocurrency investment is surging and forward-thinking banks are looking to meet this demand to gain a competitive edge. With QEX, banks can get to market faster and offer reliable services based on proven technology,” said Mike Kayamori, CEO at Liquid. “Having QEX available on FusionFabric.cloud means hundreds of banks globally will be able to introduce their customers to crypto services quickly and seamlessly. The Fusion Essence core banking solution also provides many benefits, such as valuable data and analytics capabilities, making Finastra the right partner for us in helping more banks enter the crypto space.”
“More and more people are taking their fiat currency out of banks and investing it into crypto assets. Rather than simply losing this capital, QEX offers banks an opportunity to benefit from these transactions and even capture new account holders,” said Eli Rosner, Chief Product and Technology Officer at Finastra. “QEX also enables banks to leverage the trusted brands and relationships they have built over many years to offer crypto services in a familiar environment, creating the exciting potential to capture the business of investors who are curious but cautious. As an ecosystem orchestrator we aim to bring partners together to fulfil the needs of customers, so we look forward to working with Liquid to drive the expansion of accessible cryptocurrency services in retail banking.”
For further information please contact:
Benjamin Jun Tai
Senior PR Lead
T +65 9058 1160
E [email protected]
Global Head of PR
T +44 (0)20 3320 5892
E [email protected]
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 top100 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 www.finastra.com