Finastra Assessment Test Finastra Assessment Core Banking Solutions 2

Question 1

Which Finastra platform enables banks to build and deploy open banking APIs and third-party integrations?

Accepted Answer

Fusion Fabric.cloud

Answer

Fusion Fabric.cloud is Finastra's open developer platform that allows banks and fintechs to collaborate and deploy financial services APIs.

Question 2

In Finastra's core banking architecture, what does SOA stand for in the context of system design?

Accepted Answer

Service Oriented Architecture

Answer

SOA stands for Service Oriented Architecture, which Finastra uses to enable modular, interoperable banking services.

Question 3

Which Finastra core banking solution is specifically designed for Islamic banking and Sharia-compliant financial products?

Accepted Answer

Fusion Islamic Banking

Answer

Fusion Islamic Banking is Finastra's solution tailored to support Sharia-compliant products like Murabaha, Ijara, and Musharaka.

Question 4

What is the primary benefit of a real-time core banking system compared to a batch-processing system?

Accepted Answer

Immediate reflection of transactions across all channels

Answer

Real-time core banking ensures transactions are processed and reflected instantly across all channels, improving customer experience and data accuracy.

Question 5

In Finastra's Fusion Phoenix solution, what is the role of the 'parameterization' approach to product setup?

Accepted Answer

It allows product configuration without code changes

Answer

Parameterization in Fusion Phoenix enables banks to configure new financial products by setting parameters rather than writing custom code, reducing time-to-market.

Finastra Assessment Test Practice Test

Finastra Assessment Test Practice Test

Finastra Assessment Test Finastra Assessment Core Banking Solutions 2