Finastra today announced a multi-year agreement with Microsoft focused on trade platform modernisation to address evolving corporate customer expectations.
The multi-year agreement will deliver one of the leading global documentary trade and supply chain finance platforms. It builds on the availability of Finastra Trade Innovation in the cloud and will deliver the full functionality of the existing platform via Microsoft Azure.
In a step toward digitalisation and open finance, this agreement will give banks increased agility, flexibility and scalability, enabling them to continue to provide service excellence to customers throughout their modernisation journey. This extension of the open APIs available through Trade Innovation and Finastra’s open innovation platform, FusionFabric.cloud, will allow customers to leverage a vibrant digital trade ecosystem, supporting the digitalisation of the full transaction lifecycle.
Isabel Fernandez, executive vice president for lending at Finastra, commented: “Customers are eager to transform their trade finance and supply chain offerings, and to access the latest innovations, working with partners across the ecosystem. Via this agreement, existing and new customers will benefit from increased flexibility to connect, collaborate and adapt to evolving customer needs and new regulations.”
Bill Borden, corporate vice president of worldwide financial services at Microsoft, added: “Using the rich functionality of Finastra’s Trade Innovation platform and FusionFabric.cloud, combined with the power of Microsoft Azure and data and AI advancements, we look forward to helping financial institutions further accelerate innovation, increase efficiencies, enhance customer engagement and transform their operations at scale.”