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Finastra Taps Microsoft Azure for Improved Financial Services

by on October 12, 2017

A lot of people have become familiar with Microsoft Azure. This cloud-based infrastructure is of great interest to a lot of enterprises. Moreover, the platform recently introduced support for a few dozen blockchain projects. Finastra is now looking to bring payments to the Microsoft Azure platform. An interesting concept that will introduce the next-generation payments solutions to enterprise-grade customers.

Finastra is one of the many financial service providers looking to expand its presence in the near future. Attracting enterprise-grade clients is a challenge for any company these days.Then again, there are some ways to make this process a lot easier these days Embracing Microsoft Azure is one way to go about things, although it is not something most people would make a priority. Then again, Finastra thinks it is a smart decision.

Finastra and Microsoft Azure are a Great mix

To put this into perspective, Finastra’s infrastructure is already cloud-based. Working with Microsoft Azure makes a lot of sense in this regard. The cloud-based lending oversight solution will be of great interest to a lot of enterprises. Although it was already available in Azure in the US and Canada, the payment capabilities will be migrated to Microsoft’s platform in full. A positive turn of events, assuming things play out in a manner that will benefit the company first and foremost.

Finastra CEO Nadeem Syed comments as follows:

“This collaboration allows us to change how we deliver software to our customers and partners in a fundamental way. It will enable us to bring new products to market faster and more frequently, with stability and with the highest levels of data security for which Microsoft is known. It also allows us to take a significant step forward in the creation of a platform for innovation and collaboration in financial services.”

Optimizing existing business processes and functions is of great interest to Finastra. At the same time, they can expedite development with stability and sophistication. Given how fast the business landscape changes, such “tools” are invaluable. Especially banks are actively seeking innovative solutions which can evolve and scale over time. A cloud-based infrastructure makes sense in this regard. While not necessarily perfect, it is a good first step toward ushering in a new era of finance altogether.

Header image courtesy of Shutterstock

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.
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