Finastra has united with Microsoft Corp to help enhance the digital transformation of financial services.
The move marks a commitment and builds on the 3,000 banks and financial institutions already supported by both companies across payments, lending, treasury and retail banking on Azure.
Utilising Microsoft platforms has already enabled Finastra to accelerate its product road maps to bring even more of its mission-critical solutions to the cloud for its 8,500 customers, alongside advancements in data, AI and open banking.
Simon Paris, CEO, Finastra stated: “This is a truly exciting step change in the relationship between our two companies. We believe the future of finance is open. Together with Microsoft, we can provide people, businesses and communities with the solutions and services that fit around their needs and lives, unlocking the power and potential of finance for everyone.
“As the pandemic has brought the future forward with regard to digitization, our vision to transform the world of financial services aligns closely with Microsoft’s ambitions, and I believe that together we can help accelerate this digital shift.”
Along with the strategic partner relationship, Finastra’s FusionFabric.cloud open innovation platform will continue to encourage co-innovation of next-generation financial services applications. Powered by Microsoft Azure, it allows developers unprecedented access to build on top of Finastra’s core systems for faster incubation of high-value applications at scale.
Scott Guthrie, executive vice president, Cloud + AI, Microsoft added: “Finastra’s open developer platform, built on Microsoft Azure, is leading the way in accelerating collaboration and innovation in financial services. By helping with capabilities such as e-signatory and e-notary, Finastra is able to quickly extend those solutions for more customers.
“We’re thrilled to be working with Finastra to transform the future of financial services by accelerating its move to the cloud. Together we will fuel the digital transformation of financial services, and by delivering on operational efficiencies and reducing risk, we will help increase productivity and enable deeper client engagement.”
