Finastra, a leading provider of financial services software, has announced its partnership with Microsoft to assist in the modernisation of trade platform infrastructure worldwide.
The collaboration between Finastra and Microsoft aims to leverage the power of technology to drive innovation, increase efficiency, and enhance the security of global trade platforms. By combining Finastra’s expertise in financial software solutions with Microsoft’s cutting-edge technologies, the partnership seeks to address the evolving needs of the trade finance industry.
“We are excited to join forces with Microsoft, as our shared vision of digital transformation aligns perfectly,” said Simon Paris, CEO of Finastra. “This collaboration will empower us to revolutionize how businesses manage and conduct international trade.”
Trade platforms are vital for facilitating international trade by connecting buyers, sellers, banks, and regulators. However, many of these platforms still rely on outdated technologies and processes, resulting in inefficiencies, delays, and increased risks.
Through this partnership, Finastra and Microsoft aim to modernise trade platforms by implementing state-of-the-art technologies such as artificial intelligence, blockchain, and cloud computing. These innovations will enable faster and more secure processing of trade transactions, enhance transparency, and mitigate fraud and security threats.
This strategic collaboration will also provide a platform for Finastra and Microsoft to develop new tools, applications, and services tailored specifically for the trade finance industry. By leveraging Microsoft Azure, a comprehensive cloud computing platform, Finastra will enhance the scalability, flexibility, and reliability of its trade finance solutions.
In addition to technological advancements, Finastra and Microsoft are committed to supporting the digital transformation of financial institutions and businesses worldwide. They aim to provide educational resources, training programs, and adoption plans to help organizations seamlessly transition to the modernised trade platform infrastructure.
“Our partnership with Finastra reflects our shared commitment to transforming the financial industry using cutting-edge technologies,” said Jean-Philippe Courtois, Executive Vice President and President, Microsoft Global Sales, Marketing, and Operations. “Together, we will enable financial institutions to embrace digitalisation and enhance their competitiveness in the global marketplace.”
The partnership between Finastra and Microsoft comes at a time when the global trade finance industry is ripe for transformation. With the growing demand for faster, more efficient, and secure trade transactions, this collaboration is expected to pave the way for a new era of trade platform modernisation.
Key highlights of the Finastra and Microsoft partnership:
- Modernisation of trade platforms using cutting-edge technologies like AI, blockchain, and cloud computing.
- Development of new tools, applications, and services tailored for the trade finance industry.
- Enhancement of scalability, flexibility, and reliability through Microsoft Azure.
- Support for digital transformation with educational resources, training programs, and adoption plans.
- Empowering financial institutions to embrace digitalisation and enhance their competitiveness globally.
With Finastra and Microsoft joining forces, the trade finance industry can expect significant advancements in trade platform infrastructure, leading to a more efficient and secure global trading ecosystem.
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