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Finastra extends managed services agreement with Luxoft

Source: Finastra

Finastra, a global provider of financial software applications and marketplaces, today announced a new managed services partnership agreement with Luxoft, a DXC Technology company, to support Finastra’s Kondor customers in the Europe, Middle East and Africa (EMEA) region with their cloud transformation journeys.

The strategic partnership expands the companies’ long-standing relationship, which has been in place since 2006. Under the new agreement, Luxoft will become the preferred provider of managed services and hosting for Finastra’s solution in the region.

“As a long-standing Finastra partner, we are excited to extend our collaboration to help Kondor customers in EMEA modernize their technology estate, migrate to the cloud, increase agility and reduce total cost of ownership (TCO),” said Rob Easter, Managing Director, Banking & Capital Markets at Luxoft. “With Finastra’s industry-leading solution, combined with our extensive delivery expertise, banks will have access to robust services underpinned by the as-a-service cloud-construct model to help them accelerate their growth, innovation and the ability to adapt quickly to new demands.”

Finastra Kondor is a best-of-breed trading system that meets financial institutions’ needs for sophisticated treasury functionality, while enabling growth and ensuring compliance. Open, flexible, easy to use, and based on microservices, Kondor reduces the cost per trade with complete front-to-back office integration across the full range of treasury trading instruments. The solution offers powerful risk analytics, trade processing, position management and real-time risk coverage. It enables banks to trade high volumes in treasury while offering the flexibility to support more complex derivatives, options and structured trades.

“Partnerships are crucial for Finastra’s success, and we take great care when it comes to selecting which companies we collaborate with,” said Wissam Khoury, EVP, Treasury & Capital Markets at Finastra. “We also recognize the enormous value of managed services, providing banks with the necessary flexibility and adaptability particularly during times of ongoing uncertainty and change. With extensive expertise in delivering financial services software and knowledge of our Treasury & Capital Markets solutions, we believe that Luxoft is the right partner to provide our Kondor customers in EMEA with seamless services that support their ongoing growth.”

The new partnership with Finastra in EMEA complements the existing partnerships that Luxoft has with other vendors. Luxoft remains open to collaborate with other software vendors to deliver turnkey managed services to their customer base.

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