Finastra selects OpenFin to enhance Kondor treasury management solution
Finastra, a global software provider to banks and financial institutions, has enlisted OpenFin to “redefine the user experience” of Kondor, a long-standing treasury management system in Finastra’s portfolio.
OpenFin will “redefine the user experience” of Finastra’s Kondor
Kondor is a heavyweight in the treasury management software world and is used by many banks and financial institutions worldwide. It resided within Thomson Reuters’ trade and risk management software business until 2011, when the business was sold to PE firm Vista Equity Partners for around $200 million. Vista then brought together its various acquisitions in the financial services, banking and payments technology space under one brand, Finastra.
The partnership with OpenFin is part of Kondor’s “wider evolution”, says Finastra, “which includes leveraging microservices, embedded AI and partner ecosystems to deliver intuitive and persona-based experiences, available via Treasury-as-a-Service (TaaS) and cloud capabilities”.
OpenFin’s Workspace “Anywhere” technology will enhance workspaces and workflows for treasurers, resulting in greater efficiencies and streamlining the decision-making process for banks, Finastra explains.
Founded in 2010 and headquartered in New York, USA, OpenFin provides an operating system for enterprise productivity – Chromium-based workspace software – in financial services. The company claims “90% of major global banks” as clients (some are also investors) and says it deploys 4,500+ desktop applications to 4,000+ banks and buy-side firms. Last year, it raised $35 million in a Series D funding round led by Bank of America.
“We’re giving banks the tools to fast-track their transformation, future-proof their business to evolve with new demands and optimise their entire treasury operations – from full back-office processing through to real-time coverage of credit, market and liquidity risk in the front office,” comments Herve Carrere, Finastra’s chief product and technology officer, treasury and capital markets.
