# Finxact

> Finxact, a Fiserv company, supplies cloud-native core banking software for financial institutions, fintechs and embedded finance programs. Its real-time ledger and transaction engine support deposits, lending and configurable financial products through open APIs, with payment rails and developer tools alongside the core.

- **Founded:** 2016
- **Headquarters:** Jacksonville, United States
- **Founders:** Frank Sanchez (Co-founder; former CEO; Head of Finxact and Vice Chairman, Fiserv (April 2026 release)), Michael Sanchez (Co-founder; President at the time of the January 2019 funding announcement)
- **Products:** Finxact Core, Finxact Payment Rails, Finxact.io, Product Launchpad, Finxact Console
- **Notable:** Live Oak announced conversion of more than 60,000 deposit customer accounts in September 2021., Fiserv completed its acquisition on April 1, 2022., FirstRand became the first institution outside the United States to commission Finxact, announced February 2025.

## Products & services

- **Finxact Core** — Cloud-native system of record and real-time transaction processing for deposit and lending products, accessible through APIs.
- **Finxact Payment Rails** — Native ACH, The Clearing House RTP and wire capabilities, with settlement and reconciliation functions.
- **Finxact.io** — Developer environment with documentation, API references, sandbox instances, training and configuration tools.
- **Product Launchpad** — Tools for designing and configuring financial products using reusable components.
- **Finxact Console** — Operational interface for configuring and administering the platform.
- **Finxact Pro** — AI assistant documented in the developer portal; accompanied by MCP server and Finxact Connect documentation.

## Achievements

- Live Oak announced conversion of more than 60,000 deposit customer accounts in September 2021.
- Fiserv completed its acquisition on April 1, 2022.
- FirstRand became the first institution outside the United States to commission Finxact, announced February 2025.
- Fiserv reported more than 30 million live Finxact accounts in April 2026.
- Named best SaaS for FinTech at the 2026 FinTech Awards, according to Fiserv.

## Latest updates

- **2026-08** — Flagstar selected Finxact for phased core consolidation; the announcement describes a planned modernization, not a completed conversion.
- **2026-04** — Fiserv announced a FinTech Awards SaaS win and reported over 30 million live accounts.
- **2025-08** — Thread Bank selected Finxact alongside Infinant’s Interlace embedded banking layer.
- **2025-02** — FirstRand selected Finxact to support FNB and RMB modernization.

## Links

- Website: https://www.finxact.com/
- LinkedIn: https://www.linkedin.com/company/finxact/
- Twitter/X: https://twitter.com/finxact
- YouTube: https://www.youtube.com/@finxact9477

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Profile page: https://yespress.io/finxact
Published by YesPress — https://yespress.io
Last updated: 2026-10-25