Italian job: Fabrick collaborates with Microsoft on Open Banking

26 Mar 2021

Source: Fabrik


Fabrick, Italy’s first Open Banking ecosystem that operates internationally to promote Open Finance, announces the strengthening of its collaboration with Microsoft Italia with the aim of leveraging Cloud Computing and new technologies to continue to develop innovative projects capable of accelerating the digital transformation of the financial world.

As part of the partnership, Fabrick’s unique offering will become part of the Microsoft Commercial Marketplace, Microsoft’s financial ecosystem that already includes more than 17,000 globally certified apps and services. This collaboration will enable Fabrick to strengthen its presence in the corporate market, both domestically and internationally, allowing for multiple companies across Europe to benefit from the new Open Banking and Open Payment solutions.

The agreement will see Fabrick collaborate with Microsoft Italia to further enhance its approach to financial sector innovation, based on the ability to openly integrate third-party services for the rapid development of digital, personalised and affordable products and services. These services will centre around the needs of advanced end users and capitalise on the flexibility, scalability and security of the Microsoft Azure cloud platform, as well as the most advanced features of Artificial Intelligence and Integrated Data Analysis.

The Personal Finance Management solution is already available and enables end customers to view and manage their money whether it is in a different bank or bank accounts all from a single app, providing a complete and real-time view of their resources, in line with PSD2 regulations. With this in mind, further Open Finance services will be developed, in order to transfer the benefits and reliability of Azure Cloud to corporate partners. Azure Cloud boasts over 60 Datacenter Regions globally and offers absolute and robust cybersecurity and privacy guarantees with more than 90 compliance standards including GDPR.

Paolo Zaccardi, CEO of Fabrick: “Fabrick is a partner for all those companies that want to pursue innovation projects, while remaining competitive in strategic sectors for their business. In order to do this effectively, we identify market needs and develop a highly modular offer that guarantees the best customer experience. For us, the partnership with Microsoft represents an extraordinary opportunity to grow and strengthen our positioning in the market; we have found a valuable ally who, like us, has seen in technological evolution and Open Finance a new way to innovate the delivery of corporate services for the end user”.

Silvia Candiani, CEO of Microsoft Italy: “We are proud of this partnership with Fabrick, a company that is of strategic importance for innovation in the finance world. Fabrick perfectly embodies our thought that ‘every organisation is a tech company’. This is indeed a very appropriate concept to describe an excellent company that has in its DNA the vocation for innovation as the key to transform the financial services market to enhance openness and sharing. With our Cloud platform we intend to further support the growth journey of this Italian company, helping it to export its innovative solutions abroad. By working as a team, we intend to contribute to the digital transformation of the sector with the aim of helping the many organisations operating in this area to offer increasing value to their customers, allowing them to lead their own financial strategies and to optimise the management of their own resources in safely and securely”.