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23 January, 2019
News and research on financial software quality assurance and risk management

Finastra and Microsoft partner to deliver cloud-based solutions for financial services

13 March 2018
Financial services solutions provider Finastra has named Microsoft as its strategic partner, as it gears up to launch a number of payments and retail banking products on Azure over the course of 2018

Finastra, the London-based provider of financial software solutions, and global software giant Microsoft have formed a strategic alliance in a bid to deliver secure, flexible and cost effective financial services cloud solutions.

As part of the alliance, Microsoft Azure, Microsoft’s cloud platform, will underpin – Finastra’s platform as a service solution – as its strategic cloud platform. In addition, Finastra will launch a selection of its global payments and retail banking products on Azure over the course of 2018. The alliance aims to offer customers a choice of cost effective cloud-based technology solutions across the financial services landscape.

Simon Paris, Deputy CEO at Finastra, said: “As we change the way software is written, deployed, consumed and monetised with our open architecture, it makes sense to team up with a trusted technology powerhouse like Microsoft which shares our values in providing secure, accessible and modern technology in high performance environments. completely opens our software up to third parties, and our broad solution set is unparalleled, enabling us to revolutionise the traditional development model and pave the way for future generations to embrace a collaborative ecosystem approach.”

“Technology is increasingly providing a competitive advantage to financial services businesses looking to thrive in the digital economy,” said Toni Townes-Whitley, Corporate Vice President, Industry at Microsoft. “We are excited to collaborate with Finastra to deliver innovative financial services solutions powered by Microsoft Azure, underpinned by our investments in cloud security and regulatory compliance.”

Finastra, which was formed in 2017 following the merger of Misys and D+H, has moved its US payments line to Azure, and more business lines will follow over the next 12 months, the company said.

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