Finastra is integrating its Treasury as a Solution (TaaS) product, Fusion Kondor, for ITC Infotech’s customer base across Europe.
Through the announcement of their strategic partnership, Finastra will offer its cloud-based service to ITC Infotech customers as a way to ‘harness treasury technology quicker’, becoming adaptable to any new regulatory changes.
Ready to go live with new features and functionalities awaiting, this latest announcement strengthens the preexisting relationship between Finastra and ITC Infotech.
Anindya Roy, Europe President of ITC Infotech, said: “Banking treasury teams are looking to modernise their processes and improve their operational resilience. The Kondor TaaS solution will enable banks to harness treasury technology quickly, to automate manual processes, reduce dependency and improve cost efficiency.
“Finastra’s technology is market-leading, and we are excited to bring customers a seamless managed services proposition, which is easy and quick to implement, and significantly reduces cost overheads across treasury, risk and compliance.”
Finastra states that the Kondor TaaS solution could be up and running in ‘as little as 90 days’, purposed for a quick and seamless transition for customers to adopt. The solution also integrates pre-configured best practice models for easy understanding.
Through their long-standing relationship, Finastra and ITC Infotech have collaborated on working with various bank’s treasury, operations and IT teams to review their current systems, help mitigate risks and implementing ‘future proof solutions’ to a secure cloud.
“ITC Infotech has been a long-standing partner of ours and it makes sense to expand on our proven delivery track record, to bring banks in Europe access to leading treasury technology in the cloud,” commented Wissam Khoury, EVP of Treasury & Capital Markets Business Unit at Finastra.
“Together we will deliver our treasury platform as a managed services offering, creating compelling solutions for our joint customers to take advantage of new capabilities such as liquidity management.”