Finastra, a company delivering its payment technology to 48 of the world’s top 50 banks, is bringing its payments solutions to the cloud via Microsoft Azure. The move would enable Finastra to deploy value-added services to clients more efficiently.
“This collaboration allows us to change how we deliver software to our customers and partners in a fundamental way,” said Nadeem Syed, CEO of Finastra. “It will enable us to bring new products to market faster and more frequently, with stability and with the highest levels of data security for which Microsoft is known. It also allows us to take a significant step forward in the creation of a platform for innovation and collaboration in financial services.”
Banks would now benefit from streamlined onboarding, as well as faster access to new products and upgrades. This alliance is an extension of Finastra’s cloud-based lending oversight solution that was previously launched on Microsoft Azure in the U.S. and Canadian markets in 2016. Since then, Finastra has broadened its relationship with Microsoft and is migrating its payments capabilities to the Azure cloud platform.
“It is inspiring to work with leaders like Finastra who are helping to benefit our mutual customers in the financial services industry,” said Janet Lewis, Vice President of Worldwide Financial Services, Microsoft. “By using the Microsoft Azure cloud platform, Finastra will optimize its payments solutions and ultimately better serve its customers – all while ensuring its specific security, privacy and compliance needs are met.”