Finastra Digital Banking Insights, the tech provider’s newest application, launched last week to allow clients to better leverage data through machine learning and advanced analytics.

The app, which is exclusively available to Finastra’s Fusion Digital Banking customers, leverages data that flows from the bank’s backend database through Finastra’s open platform FusionFabric.cloud and is then revealed to the client via Microsoft’s Power BI interface, Amber Sappington, head of data and analytics at Finastra, told Bank Automation News.

“We saw a need for this product because our digital banking customers have a ton of data out there, but they don’t really have a great way to visualize it,” Sappington said.

Clients on the digital banking platform have already gone through the API integration of Finastra, so the pipelines for the data are already in place, she said, adding that the data for the app can be “turned on in the matter of a day.”

“It’s a really easy setup process. We get the rights to the data, then we can pull that data in and set up the solution very quickly for the customer … it’s an easy login from their existing console,” Sappington said.

Bank insights

The app offers six insight dashboards that allow financial institutions to view customer interactions: accounts, transfers, digital users, logins, product and digital activity, according to a release.

For example, through the digital activity dashboard, Finastra “scores” each customer so banks can understand which clients are most digitally inclined and tailor their messaging.

The $1.1 billion Atmore, Ala.-based United Bank is leveraging the new app after participating in the pilot program for several months, Nick Saucier, e-banking supervisor at the bank, said in the release. “The current tools available within Finastra Digital Banking could potentially be leveraged for other very useful purposes for financial institutions,” he said.

The app’s rollout is viewed as a “base” for future offerings “so we can bring more and more functionality and actionable insights to the customers,” Sappington added.

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