Finastra Assessment Test Finastra Assessment Core Banking Solutions 3

Question 1

Which Finastra product is a cloud-native core banking solution designed primarily for community and regional banks?

Accepted Answer

Fusion Mbanx

Answer

Fusion Mbanx is Finastra's cloud-native core banking platform targeted at community banks and credit unions in North America.

Question 2

What does AML stand for in the context of Finastra's compliance features within core banking?

Accepted Answer

Anti-Money Laundering

Answer

AML stands for Anti-Money Laundering, a set of regulations and procedures that Finastra's core banking solutions help banks comply with.

Question 3

In Finastra core banking, what is the purpose of an 'interest accrual' process?

Accepted Answer

Accumulating interest earned or owed over a period before payment

Answer

Interest accrual is the process of tracking and accumulating interest earned or owed over time, which is then applied on scheduled payment dates.

Question 4

Which integration standard does Finastra commonly use to enable banks to connect core banking with third-party fintech applications?

Accepted Answer

REST APIs and open banking standards

Answer

Finastra uses REST APIs and open banking standards (like PSD2) through Fusion Fabric.cloud to enable secure, scalable third-party integrations.

Question 5

What is the function of a 'general ledger' (GL) module within Finastra's core banking system?

Accepted Answer

Recording all financial transactions to produce accurate financial statements

Answer

The general ledger records every financial transaction and is the foundation for producing balance sheets, income statements, and regulatory reports.

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