The innovation hub brings banks, insurance companies and other financial institutions together with Fintech firms, industry bodies and academics to collaborate and drive innovation across the industry.

Hugh Cumming, CTO, Platforms at Finastra, said, “Joining the Finance Innovation hub brings Finastra a range of opportunities to further increase collaboration with Fintech firms, banks and other financial institutions across France and to continue to grow local participation in our open innovation platform, FusionFabric.cloud. Our membership of Finance Innovation gives us the opportunity to work closely with Fintechs in the region, supporting the development of innovative new apps on our platform and making these more easily available to banks and financial institutions not just in France, but potentially globally too.”

As part of its membership of Finance Innovation, Finastra expects to participate in a series of industry events and collaboration opportunities throughout 2018, working together with customers, Fintech partners and other industry players. Events include working groups to discuss industry developments in areas such as asset management and banking, speed dating meetings one-on-one with Fintech firms, and larger Fintech community events. Finastra will also contribute to the Finance Innovation Think Tank - collaborating with thought-leaders in the production of industry white papers and articles.

Established in 2007 by Christine Lagarde (then Minister for Finance), Finance Innovation encourages and facilitates the development of innovative projects and research in banking, insurance, asset management, real-estate and the digital economy. Some 550 projects - run by start-ups, SMEs, large companies and academics - have already received the Finance Innovation seal of approval, with more than 1,000 companies involved to date and an additional 100 new projects added each year.