Finastra Assessment Test Finastra Assessment Digital Banking Channels 3

Question 1

Finastra's FusionFabric.cloud platform is best described as which type of infrastructure?

Accepted Answer

An open financial services platform enabling third-party app development via APIs

Answer

FusionFabric.cloud is Finastra's open financial services platform that enables fintech developers and banks to build and deploy applications through open APIs.

Question 2

Under PSD2 regulations that Finastra's open banking solutions address, which type of third-party provider is authorized to initiate payments on behalf of customers?

Accepted Answer

Payment Initiation Service Provider (PISP)

Answer

A Payment Initiation Service Provider (PISP) is authorized under PSD2 to initiate payment transactions on behalf of a customer from their bank account.

Question 3

What standard does Finastra most commonly use when exposing banking APIs for open banking compliance in the UK?

Accepted Answer

Open Banking UK API standards

Answer

Finastra's open banking solutions align with the UK Open Banking API standards defined by the Open Banking Implementation Entity (OBIE) for regulatory compliance.

Question 4

In Finastra's digital banking ecosystem, what does 'API monetization' allow a bank to do?

Accepted Answer

Charge fees for accessing banking APIs offered to third-party developers or fintechs

Answer

API monetization enables banks to generate revenue by offering paid access to their banking APIs to developers, fintechs, or enterprise clients.

Question 5

A fintech company integrates with a bank's Finastra platform to display a customer's account balances in a third-party budgeting app. This is an example of which open banking use case?

Accepted Answer

Account information aggregation

Answer

Account information aggregation (via AISPs) allows third-party applications to access and display a customer's account balance and transaction data with their consent.

Finastra Assessment Test Practice Test

Finastra Assessment Test Practice Test

Finastra Assessment Test Finastra Assessment Digital Banking Channels 3