Finastra and Microsoft Corp. on Monday announced a strategic, multiyear cloud agreement to help accelerate the digital transformation of financial services.
This move marks a commitment and builds on the 3,000 banks and financial institutions already supported by both companies across payments, lending, treasury and retail banking on Azure. The agreement, paired with the unparalleled disruption of the industry, will reimagine the way banks and credit unions use technology and how we all think about sustainable, open finance. Using Microsoft platforms has already enabled Finastra to accelerate its product road maps to bring even more of its mission-critical solutions to the cloud for its 8,500 customers, alongside advancements in data, AI and open banking.
Along with the strategic partner relationship, Finastra’s FusionFabric.cloud open innovation platform will continue to encourage co-innovation of next-generation financial services applications. Powered by Microsoft Azure, it allows developers unprecedented access to build on top of Finastra’s core systems for faster incubation of high-value applications at scale.
Microsoft Azure, the Power Platform and Office 365 are also helping Finastra to transform its own business and optimize operations. With a focus on creating a workplace of the future, these technologies are supporting smart working, delivering greater collaboration and driving a “digital-first” mindset among employees. The Microsoft Workplace Analytics capabilities — with deeper insight gained from data — are also enabling faster, definitive decision-making.