Technology Record - Issue 23: Winter 21/22

93 that collaboration is crucial to success in a world where innovation can happen anywhere. Alongside all our global ecosystem partners we aim to provide people, businesses and communities with the solutions and services that fit around their needs and lives. We already support 3,000 banks and financial institutions across payments, lending, treasury and retail banking on Microsoft Azure, and our global account teams partner to deliver successful business outcomes for joint customers from discovery to delivery and ongoing support. Providing Finastra’s solutions in the cloud delivers the scale, security and geographic reach required by banks and financial institutions to deliver differentiated customer experiences. It also makes it easier to harness the advanced reporting and cognitive services capabilities, such as those available through Azure, to enrich users’ access to the right data at the right time to better serve their customers. Our partners have a key role to play, alongside Finastra, in helping banks and financial institutions accelerate through change so that they can support their customers in the best way possible. We’re committed to sharing our collective expertise in technology transformation and delivering on our vision to redefine financial services for good. If financial institutions are to keep pace with new competitors and digital challengers in a new world of embedded, connected, open finance, they need to collaborate. They can no longer innovate in isolation. Banks are increasingly cognizant of this and are showing an increasing willingness to move away from deploying and maintaining all technology on-premises – consuming software instead on a managed service basis. Finastra has been working closely with partners to deliver applications in this way. By outsourcing business process operations and technology infrastructure to a certified Finastra managed services provider (MSP) banks benefit from fixed, predictable costs, a resilient service and increased agility since the software is continually updated. With anMSP to take care of a bank’s operational and technology burden, in-house teams can redirect their resources towards innovation-led programmes focused on key competitive priorities such as bringing new products to market faster. This way, they are enabled to move at the speed of digital banks, and to innovate at pace in preparation for a new world of banking-as-a-service, embedded and contextual finance. Denise Parker is senior vice president and global head of partners and ecosystems at Finastra