Financial software provider Finastra has extended its partnership with ITC Infotech to deliver its Fusion Kondor cloud-based treasury-as-a-service solution to its growing customer base in Europe.
Customers will now benefit from increased automation of treasury services, a system that can keep pace with regulatory change, and rapid delivery time for new features and functionalities.
“Banking treasury teams are looking to modernise their processes and improve their operational resilience,” said Anindya Roy, European president at ITC Infotech. “The Kondor treasury-as-a-service solution will enable banks to harness treasury technology quickly, to automate manual processes, reduce dependency on spreadsheets and legacy technology, 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.”
Ahead of implementation, Finastra and ITC Infotech product experts spend time with banks’ treasury, operations and IT teams to review current architecture, helping to mitigate risk and ensuring a future-proof solution in the cloud. According to Finastra, banks can also use the firm’s FusionFabric.cloud open development platform to access innovative applications.
“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,” said Wissam Khoury, executive vice president of treasury and capital markets at Finastra. “Together we will deliver our treasury platform as a managed services offering, creating a compelling solution for our joint customers to take advantage of new capabilities such as liquidity management. This move aligns well with our commitment to orchestrating ecosystems that bring real value to the financial services industry.”