Finxact Completes Azure Re-Platforming for Core Banking

Core banking software provider Finxact has announced the completion of a re-platforming initiative that moves its Core-as-a-Service offering onto Microsoft Azure. The move is a direct response to growing demand from the company’s regional and super-regional bank clients and prospects who require Azure-based infrastructure to meet their own procurement, compliance, and operational standards.

What Is Finxact Core-as-a-Service?

Finxact provides a SaaS-delivered core banking platform designed to act as a modern System of Record (SOR) for financial institutions. Key capabilities include:

• Secure record-keeping and transaction processing with enforced system, business, and regulatory rules
• Elastic scalability — technically, functionally, and commercially — to support everything from core conversions to greenfield digital-only bank launches
• An open banking API designed to allow banks to deliver omnichannel and event-driven services without rebuilding their core

The platform is built on the premise that critical banking workloads — traditionally kept on-premises or on private infrastructure — can be securely and reliably operated in the public cloud, while still satisfying the operational continuity and compliance requirements regulators expect of core systems.

Why Microsoft Azure?

Finxact selected Azure based on Microsoft’s compliance coverage, security tooling, and its established position as a trusted cloud platform in the financial services sector. The partnership involved co-development of the datacenter infrastructure configuration to align with Finxact’s application design and deployment patterns.

“Our team worked side-by-side with a talented and attentive team from Microsoft to provision our datacenter infrastructure in a way that optimized our application design and deployment. It was an excellent outcome, and we’re looking forward to future co-development efforts with the Microsoft team to position our joint customers well for enhanced analytics, AI, and other Microsoft Azure solutions.”

— Jim Joyce, Chief Technical Officer, Finxact

“Many banks are looking for efficiency and agility gains from technology advancements. By adopting Microsoft Azure, Finxact will be able to help its clients accelerate their digital banking presence through greater computing scale, unlocking new capabilities.”

— Luke Thomas, Head of Banking, U.S. Financial Services, Microsoft

Broader Context: Cloud Adoption in Core Banking

When Finxact first launched Core-as-a-Service, public cloud adoption in banking was largely limited to front-office workloads — productivity suites and customer-facing channel applications. Running a core banking System of Record on public cloud infrastructure was, and remains, a significant architectural and regulatory decision for any bank.

Finxact’s Azure availability represents an argument that the security controls, geographic redundancy, and compliance certifications available on hyperscale cloud platforms can meet — and in some respects exceed — what banks can achieve in their own data centers for core processing workloads. The pitch is particularly targeted at regional and super-regional banks that may lack the capital and engineering resources to maintain differentiated on-premises infrastructure.

Co-Development Roadmap: Analytics and AI

Beyond infrastructure, Finxact and Microsoft are also pursuing co-development in areas where core transaction data can feed downstream analytics, AI, and decisioning tooling. Microsoft Power BI is cited as one example of a tool that could ingest and surface insights from core transaction data streams, though the specific integrations are described as being in active development rather than generally available.

Early Customer Adoption

At the time of this announcement, middle-class-focused digital bank One had selected Finxact’s Core-as-a-Service to power its banking operations, representing one of the early production use cases for the platform.

About Finxact

Founded in 2016, Finxact describes its mission as freeing banks from the constraints of legacy systems so they can build the bank they envision rather than the bank their technology permits. The company has raised funding from a range of strategic investors in the banking and fintech ecosystem, including the American Bankers Association (ABA), First Data, Accenture Ventures, SunTrust Bank, Live Oak Ventures, and Woodforest National Bank, among others.

The company positions its platform as enterprise-class, public cloud-hosted, private-data architecture with a completely open banking API — a combination it argues differentiates it from both legacy core vendors and newer but less capable cloud-native alternatives.