VirtusaPolaris launches financial services arm
Westborough-based VirtusaPolaris announced Tuesday it is launching financial services to connect bank with tech companies through application programming interfaces.
The VirtusaPolaris OpenBank API Accelerator will offer products allowing banks to partner with fintech companies and be a part of a growing part of the financial world, according to the company. According to Investopedia, API is a go-between that enables a software program to interact with other software. API capabilities will allow banks to partner with FinTech firms more efficiently and effectively, according to VirtusaPolaris.
“API banking is poised to change the face of financial services as a shift to open platforms can create new, dynamic, value-driven ecosystems across areas such as payments, lending, personal financial management, trade finance and supply chain,” Bob Graham, global solutions head, Banking and Financial Services at VirtusaPolaris.
VirtusaPolaris OpenBank API Accelerator has three main components:
FinTech Connect, a curated list of APIs from over 50 innovative FinTechs;
Core Connect, adaptors to connect APIs to core banking systems, blockchain rails, BFS specific messaging systems;
BIAN Compliant MicroServices Blueprint for lending, payments and wealth management
According to VirtusaPolaris, this is just the beginning, with more to be added to VirtusaPolaris OpenBank API Accelerator.
WBJ Web Partners
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