Finastra heads to IBM cloud for digital banking
Fintech titan Finastra is turning to IBM to power its banking operations with cloud and cognitive technologies.
As reported yesterday (14 June), Misys and DH Corporation (D+H) joined forces to create Finastra, the third largest financial services technology company in the world. With Finastra now officially alive and kicking, it’s wasted no time in showing off its ambitions.
As part of the collaboration, Finastra intends to run its FusionBanking Essence core and digital solution on IBM Cloud. The companies say they will work together on both a financial crime and a blockchain-based offering, and IBM plans to support Finastra as it develops retail banking proof of concepts and product demos, including using Watson APIs in its products.
Nadeem Syed, CEO at Finastra, says it is entering a “new era of banking where collaboration is a must” and its relationship with a “dominant player like IBM can extend our product offering”.
In addition, IBM and Finastra will share thought leadership, developer and architecture resources around IBM Cloud, Watson and blockchain.
Finastra says its FusionFabric.cloud architecture and open APIs make it possible for IBM to incorporate its technology and cognitive capabilities directly into the Finastra banking solution.
Before the merger
In its former and separate life, Misys was naturally busy.
Earliler this year, Misys announced the availability of its solutions for German retail banks in the cloud. Diebold Nixdorf will deliver infrastructure services out of its certified data centres in Germany.
Last year, Misys launched Misys FinCloud, a range of cloud solutions and “global cloud environment” for its clients. It is supported by “selected global and local infrastructure providers, systems integrators and solution partners”, including Rackspace and NTT Communications.
