The move aligns well with the P27 initiative in the Nordics, says Rao
Mindtree (NSE: MINDTREE), with 14 offices in India, is taking London-headquartered Finastra’s ‘Fusion Payments To Go’ technology to banks in the Nordics, the UK and Ireland, as a managed service.
As part of a new partnership, Mindtree will host Finastra’s proven payments solution in the cloud and handle integration of the technology across the rest of the banks’ existing solutions, minimizing risk and boosting efficiency for users.
“The partnership (with Finastra) is about helping banks to better serve their customers by keeping ahead of market changes, delivering faster innovation and opening business growth opportunities,” Denise Parker, SVP and Global Head of Partner and Ecosystems at Finastra, said on 16 May 2022.
“We welcome Mindtree to our partner ecosystem. Together we will enable agile banks in the Nordics, the UK and Ireland to tap into our Fusion Payments To Go solution, hosted by Mindtree in the cloud.”
“The move also aligns well with the P27 initiative in the Nordics, which promotes interoperability, paperless systems and real-time payment capabilities,” added Mukund Rao, Chief Business Officer for Banking, Financial Services and Insurance at Mindtree.
The new payments infrastructure will be a world’s first and create the foundation for multiple initiatives and innovations in the Nordics for 27 million people in the region.
“Finastra offers best-of-breed payments solutions and, alongside our deep expertise and cloud capabilities, we are excited to join hands with them to support banks in transforming payments and making them real-time, convenient and secure.
“We pride ourselves on being a trusted partner to our customers and are confident that this partnership will help them unlock an innovation and technology advantage.”
Fusion Payments To Go offers scalable payments processing and clearing functionality, with automated and rapid onboarding for financial institutions, via open APIs. Beyond the significantly reduced go-live timeframes, the solution also enables smaller banks and financial institutions to enjoy the benefits of an advanced Payments Hub with modernized capabilities.
Finastra was named a Leader in payment hub platforms in a recent Omdia report.
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world’s top 100 banks.
Mindtree (NSE: MINDTREE) is a global technology consulting and services company that enables enterprises across industries to drive superior competitive advantage, customer experiences and business outcomes by harnessing digital and cloud technologies. A digital transformation partner to more than 275 of the world’s most pioneering enterprises, Mindtree brings extensive domain, technology and consulting expertise to help reimagine business models, accelerate innovation and maximize growth. fiinews.com
