Financial software provider Finastra has signed a multi-year agreement with Microsoft focused on trade platform innovation and building on the existing availability of Finastra Trade Innovation in the cloud.
By delivering the full functionality of Trade Innovation via a full microservices architecture using Microsoft Azure, Finastra can give its banking clients increased agility, flexibility and scalability.
Extending the open application programming interfaces available through Trade Innovation and Finastra’s open innovation platform FusionFabric.cloud will allow customers to leverage the digital trade ecosystem and support the digitalisation of the full transaction lifecycle.
“Partnering with Microsoft builds on our joint strategic vision to help accelerate the digital transformation of financial services, and support customers on their journeys to be open,” said Isabel Fernandez, executive vice president for lending at Finastra. “Customers are eager to transform their trade finance and supply chain offerings, and to access the latest innovations, working with partners across the ecosystem. Via this agreement, existing and new customers will benefit from increased flexibility to connect, collaborate and adapt to evolving customer needs and new regulations.”
“We’re excited to deepen our relationship with Finastra to support banks on their trade modernisation journey,” said Bill Borden, corporate vice president of worldwide financial services at Microsoft. “Using the rich functionality of Finastra’s Trade Innovation platform and FusionFabric.cloud, combined with the power of Microsoft Azure and data and AI advancements, we look forward to helping financial institutions further accelerate innovation, increase efficiencies, enhance customer engagement and transform their operations at scale.”