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Friday, September 20, 2019

News > Fintech

Gravity selects Finastra to power banking and lending services

Sam Monk | 16:47 Friday 16th August 2019

Gravity has selected Finastra’s Fusion Essence in the cloud solution for its end-to-end core banking capabilities.

The former is a UK-based company that is seeking authorisation to provide lending, credit card and deposit services to SMEs.

Fusion Essence in the cloud will support Gravity as it launches in the UK and allow it to grow its business at scale.

“Small businesses in the UK continue to struggle when it comes to choosing a bank that can support their needs,” said Tim Brooke, chairman at Gravity.

“Traditional banks are failing to keep up with the agility these firms require and instead restrict their access to capital, stifle them with bureaucracy, and provide little or no support.

“By partnering with Fusion Essence in the cloud we will bring to market an agile, customer-oriented service that will make business banking fairer and simpler.”

Anand Subbaraman, general manager of retail banking at Finastra, added: “Gravity recognised from the start of its journey that a digital, cloud-first approach was essential to its success.”

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