Fiserv and Flagstar Are Rebuilding the Core
Flagstar is making a pretty big change underneath the hood.
The bank has selected Fiserv's Finxact as the foundation for its core modernization strategy, replacing legacy technology with a cloud-native, API-first core. The plan is to move toward a single consolidated system in phases.
What matters here is what that unlocks. Finxact gives Flagstar real-time transaction processing, easier access to data and more flexibility to launch new products without being held back by an old core. For a bank with $87.7 billion in assets and 340 locations, that's a meaningful technology reset.
I also wanted to point you to a useful AppsFlyer piece on winning mobile banking customers and, more importantly, keeping them engaged after acquisition — from onboarding and KYC all the way to product usage and long-term value.
Let's get into today's biggest Digital Banking stories. 👇 See you tomorrow!
Cheers,
INSIGHTS
💡 AppsFlyer: Winning Mobile Banking Users — From Acquisition to Long-Term Value. Banking apps have become essential digital channels, but banks still face challenges around privacy, fraud, fragmented customer journeys, and measuring business-critical conversions across app, web, email, and other channels. AppsFlyer helps banks connect granular measurement, deep linking, re-engagement, and attribution to understand what drives meaningful outcomes — from onboarding and KYC completion to product usage and long-term customer value — while maintaining privacy and regulatory compliance. Read the full article here
NEWS
🇺🇸 Fiserv and Flagstar Bank announce a strategic core banking relationship, with Flagstar selecting Finxact as the foundation of its modernization strategy. The cloud native platform will replace legacy technology in a phased approach.
🇸🇬 Revolut Ultra launches in Singapore with unlimited lounge visits and airport fast-track access. The premium tier adds travel perks and lifestyle benefits, positioning Revolut as a high-end travel banking option in Southeast Asia.
🇯🇵 Minna no Ginko signs a bank agency agreement with Revolut Technologies Japan, strengthening BaaS collaboration. The deal deepens integration between the Japanese digital bank and Revolut's next generation financial app.
🇨🇾 Revolut appoints Georgios Vasiliou to head its Cyprus crypto unit as CEO. Vasiliou, previously CEO of Trading.com, replaces founding CEO Costas Michael, who moves to a board advisor role.
🇬🇧 Banking veteran Hoffman to step down as Monzo chairman after leading the board since the neobank's early growth years. Keep reading
🇬🇧 Monzo named UK's most recommended bank by customers for the 12th time, topping the CMA service quality rankings again. The neobank now serves 16 million customers and recently reached one million business users.
🇦🇪 Commercial Bank of Dubai becomes the first UAE bank to launch multi-bank payment initiation, following CBUAE approval as a Third Party Provider. The feature lets customers initiate payments from other banks via the CBD app.
🇮🇳 Airtel Payments Bank names Shabnam Sinha as new Chairperson, effective October 1 for a three year term. Sinha, a former World Bank adviser, succeeds Sunil Bharti Mittal after receiving RBI approval for the appointment.
🇨🇳 China's central bank adds eight banks as digital yuan operators, including Ping An Bank, Bank of Shanghai, and Bank of Hangzhou. The expansion brings the total number of authorized operators to 30.
🇧🇷 StoneX announces acquisition of Banco Travelex, expanding its presence in Brazil's financial services market. The deal strengthens StoneX's banking and foreign exchange capabilities in Brazil.
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