Finastra: Transforming finance through open innovation

Nadeem Syed, CEO
The finance industry is witnessing a once in a generation paradigm shift caused by regulation, digitalization, and transformation. With regulation changing rapidly, financial institutions are challenged to adapt and meet continuous compliance requirements. Meanwhile, customers’ expectations of their banking relationships are evolving, and financial institutions must meet demand for improved user experience and increased speed. For many, dependence on legacy technology systems hinders the ability to address these pain points effectively.

With such challenges at hand, adoption of third-party software is growing rapidly. That’s where Finastra comes in. Formed in 2017 by the combination of Misys and D+H, the company offers the broadest set of software solutions in the industry– spanning retail banking, transaction banking, lending, and treasury and capital markets–to help banks and corporations of all sizes accelerate growth, reduce costs, mitigate risk, and deliver a superior customer experience through technology.

“We offer mission-critical solutions for financial institutions of all sizes, on premises or in the cloud. Our technology underpins and empowers the financial services industry with agile, scalable, open platform solutions built on years of expertise,” says Nadeem Syed, CEO, Finastra.

“An open platform approach means that banks can continue to progress legacy and ecosystem transformation initiatives incrementally, embrace innovation and evolve with the agility to meet ever changing customer demands. Think iOS or Lego bricks,” adds Syed.
With a commitment to unlocking the potential of people and businesses in finance, Finastra is changing the way that modern banking software is written, developed and deployed – building a platform on which the future of financial services can be powered.

With its platform, Finastra champions collaboration and encourages innovation by opening its core systems so third parties can develop applications on top. This type of platform offers agility, faster time to market, cost advantage, and continuous delivery options. It also serves as the base on which a bank can layer open APIs to third parties, in order to maximize product potential.

Finastra’s platform helps financial institutions undergo a transformation in a holistic, step by step fashion

“Our architecture and open platform approach stimulates collaboration and innovation – provides access for fintechs, banks, consultants and more to build on top of our trusted solutions. Together we are changing the way in which applications are developed and consumed in the world of financial services. Through this unique proposition, we are bringing a true culture of open innovation to the financial services industry,” said Syed.

In closing, Syed sees the future of financial technology as being based on openness. “The future of finance lies firmly in open platform technology and Finastra is at the forefront.”

Finastra News

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FREMONT, CA: Fusion Essence, a cloud-based end-to-end core banking service, is now empowering the Manchester-based neobank for regional businesses and savers in the UK. Finastra’s fusion essence will support the revverbank as it launches its services to SMEs and retail savers in the UK. The bank provides them maximum flexibility and scalability to expand their businesses.
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London, United Kingdom

Nadeem Syed, CEO

A leading fintech company that offers the broadest portfolio of technological solutions for financial institutions of all size