Open platform Finastra has formed a new partnership with global IT services company Hexaware Technologies, which will see it provide managed services for Finastra’s payments solutions deployed in the cloud.
The managed services partnership will enable an end-to-end, cloud-enabled Payments as a Service (PaaS) offering for selected mid-sized banks in Germany, Belgium, the UK and Ireland.
Chinmoy Banerjee, corporate vice president and global head, banking at Hexaware, said: “Finastra’s strong payments offering enables our vision to help banks modernise and extend their digital footprint, by bringing their data infrastructure and applications to the cloud in an extremely fast, cost predictable, secure and co-engineered manner.
“Payments is a key focus area for Hexaware over the next three to five years. Our aim is to increase our service’s footprint through enhanced product competencies and establishing synergistic fintech partnerships, like that we have with Finastra.”
Hexaware will become a managed service provider (MSP) for Finastra’s payments solutions, managing the payment licenses and supporting implementation, hosting and maintenance services for its customers.
Oren Marmur, SVP and general manager, payments at Finastra, added: “Hexaware’s expertise and outstanding reputation has led them to experience industry-leading growth for the past three years. With deep subject matter expertise in payments, Finastra’s solution will support their vision to accelerate the digital transformation initiatives of their customers.
“The partnership was formed based on a shared goal to bring greater value for our banking customers, across payment product capabilities and technology services deployed in the cloud.”