A London-based new digital bank has chosen to team up with Finastra, the financial services scaleup.
Gravity is a new British neobank seeking authorization to serve SMEs with banking services like lending, credit cards and making deposits. It will now use Finastra’s Fusion Essence in the cloud for its end-to-end core banking capabilities. Gravity picked Finastra over other providers because it was impressed by its security solutions and ability to support the bank’s ambitions to quickly launch.
Tim Brooke, chairman of Gravity, said the bank will fulfil the need for flexibility and agility that traditional banks fail to meet. He added that Finastra’s solution “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 said, “With the cloud’s lower-cost operating model and speed of deployment, Gravity will be able to immediately benefit from Fusion Essence and differentiate its services from traditional banks. The cloud-based solution has been built to serve the unique needs of this market, enabling the bank to focus on more strategic growth and achieve timely return on investment.”
Finastra recently signed a deal with UK neobank revverbank to power its core banking capabilities in July 2019.
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