Finastra and Microsoft inks partnership to boost digital acceleration in finance

Finastra and Microsoft have announced a strategic, multiyear cloud agreement to help accelerate the digital transformation of financial services.

Both companies boasted that the partnership “will reimagine the way banks and credit unions use technology and how we all think about sustainable, open finance.”

“This is a truly exciting step change in the relationship between our two companies,” said Simon Paris, CEO of Finastra. “We believe the future of finance is open. Together with Microsoft, we can provide people, businesses and communities with the solutions and services that fit around their needs and lives, unlocking the power and potential of finance for everyone.

“As the pandemic has brought the future forward with regard to digitization, our vision to transform the world of financial services aligns closely with Microsoft’s ambitions, and I believe that together we can help accelerate this digital shift.”

Scott Guthrie, executive vice president of cloud and AI at Microsoft, added, “Finastra’s open developer platform, built on Microsoft Azure, is leading the way in accelerating collaboration and innovation in financial services. By helping with capabilities such as e-signatory and e-notary, Finastra is able to quickly extend those solutions for more customers.

“We’re thrilled to be working with Finastra to transform the future of financial services by accelerating its move to the cloud. Together we will fuel the digital transformation of financial services, and by delivering on operational efficiencies and reducing risk, we will help increase productivity and enable deeper client engagement.”

Copyright © 2020 FinTech Global

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