Finastra has signed three global banks on its Fusion LenderComm platform: BNP Paribas, Natixis and Societe Generale, following a recent sign-up by NatWest, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

“All of these banks were part of our Fusion LenderComm pilot and the momentum that the platform has seen since then is nothing short of extraordinary,” said Grant Jones, VP, Fusion LenderComm, Finastra. “This brings global banks together on the platform in the live Fusion LenderComm environment, for seamless and secure information exchange.”

Fusion LenderComm is based on Corda Enterprise, R3’s commercial version of its open source blockchain platform, Corda. The firm says it is enabling banks to expose real-time credit agreement, accrual balances and position information data to lenders, directly from agent bank loan servicing platforms, such as Finastra’s Fusion Loan IQ.

Philippe Boulas, Global Head of Corporate Banking Operations at BNP Paribas, said: “With the creation of this community and a collaborative mindset we have a unique opportunity to tackle the operational pain points we have all been experiencing for years and that constrain syndicated loan market expansion.”

Finastra said that Fusion LenderComm integrates directly into the overall technology stack at the banks.

Cécile Bartenieff, COO of global banking and investor solutions at Societe Generale, said: “The Fusion LenderComm initiative will help provide greater transparency and operational efficiency to the syndicated loan market for the benefit of all participants, including the pool of banking lenders and our borrower clients. This is an illustration of how blockchain can help banks optimize the entire flow of financial operations in a standardized and secured framework.”

The product of a merger between Misys – which demonstrated its FusionFabric.cloud technology at FinovateEurope 2017 – and D+H two years ago, Finastra recently announced the appointment of Chief People Office Sharon Doherty. Named a leader in the IDC MarketScape: Worldwide End-to-End Corporate Banking Solution Providers 2019 Vendor Assessment report in March, Finastra has forged a variety of partnerships in the first half of the year, including deals with Al Taif Islamic Bank in Iraq and Silvergate Bank of San Diego, California.

San Diego-based Silvergate Bank has selected Finastra’s Total Payments to expand its financial infrastructure with an API-enabled solution for payment processing, reports Antony Peyton of Fintech Futures (Finovate’s sister publication).

“With more than 500 digital currency and fintech customers using our platform to scale their business, Silvergate understands the importance of providing its clients with robust technology solutions,” said Chris Lane, chief operations officer, Silvergate Bank.

He added: “Finastra’s API-enabled payment platform running in the cloud reinforces our deep-rooted commitment to regulatory compliance while ensuring we are offering the most progressive solutions in the market.”

Total Payments is powered by Microsoft Azure. Finastra says its platform model helps ensure regulatory compliance across the solution with updates around regulations, standards, and clearing connections, all managed by Finastra.

The platform also connects multiple channels, consolidates payment systems, and reduces the number and complexity of back-office interfaces.

Back in March 2017, Silvergate implemented a suite of systems from FIS in a major tech overhaul – from a new core banking system to branch, digital and mobile banking, compliance and risk.

The new core banking platform – Horizon – will let the bank “streamline” its third-party systems, such as account opening and loan servicing.

Privately held, Silvergate has nearly $1 billion in assets. It has operated in the San Diego area since 1988.

Finastra was formed in 2017 via a merger between Misys and D+H. Misys demonstrated its FusionFabric.cloud software development environment, at FinovateEurope 2017.