Finastra is bringing its payment solutions to the cloud via Microsoft Azure.
This will allow the company to deploy value-added services to clients more efficiently. Banks will 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, which was previously launched on Azure in the US and Canadian markets in 2016. Since then, Finastra has broadened its relationship with Microsoft and is now migrating its payments capabilities to Azure.
“This collaboration allows us to change how we deliver software to our customers and partners in a fundamental way,” said Nadeem Syed, CEO, 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.”
The move to Azure enables Finastra to optimise existing business processes while enhancing development. The migration of payments solutions to Azure will accelerate Finastra’s ability to easily and effectively deploy value-added services onto its platforms and continue to meet customer demands.
“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 at Microsoft. “By using the Microsoft Azure cloud platform, Finastra will optimise its payments solutions and ultimately better serve its customers – all while ensuring its specific security, privacy and compliance needs are met.”