#Australia #Sydney #NTT DATA #Finastra #Lending Cloud

Finastra and NTT DATA Expand Lending Cloud Services

Finastra, a prominent global leader in financial services software, has recently announced a significant expansion of its collaboration with NTT DATA, an esteemed global IT infrastructure and services provider. This strategic partnership aims to revamp the lending infrastructure and accelerate the adoption of state-of-the-art managed services tailored for financial institutions in the Middle East, Africa, Asia Pacific (MAAP), and Latin America (LATAM) regions.

The partnership is set to enhance the delivery of Finastra's Lending Cloud Service, enabling financial institutions to enjoy faster deployments, smarter automation, and a more agile lending experience. With this initiative, NTT DATA will spearhead the application lifecycle management for Finastra's Lending Cloud Service, ensuring scalability, standardization, and operational efficiency across the platform.

Andrew Bateman, Finastra's Executive Vice President for Lending, remarked, “This evolution of our partnership with NTT DATA is based on a mutual understanding of our technological landscape and a shared vision for advanced, cloud-based lending services.” This collaboration allows both firms to accelerate client onboarding processes, ensuring the provision of a robust and high-performing service.

David Gold, the Vice President for Cloud Services and IT Modernization at NTT DATA, expressed pride in the extended partnership, emphasizing how their substantial experience in large-scale financial environments positions them to effectively support Finastra in delivering reliable, highly automated cloud services for banks across the regions. He highlighted that this collaboration combines innovation with operational excellence, aiming to transform the banking experience significantly.

One of the key components of their joint solution is the integrated tools developed to measure, report on, and fulfill service-level commitments, enhancing service delivery. For NTT DATA, this partnership opens new avenues for expanding its product portfolio, embodying a strategic opportunity to enhance its offerings with a joint go-to-market strategy that is already being implemented to broaden the solution's industry impact.

This development is particularly vital for the APAC markets, where the pace of cloud transformation in the financial services sector continues to gain momentum. A recent survey by Finastra, entitled “Financial Services State of the Nation,” revealed that over a quarter (27%) of financial institutions globally have made strides in improving or implementing cloud solutions within the last year. Notably, APAC countries like Vietnam, Hong Kong, and Singapore are taking the lead, with more than half or near half of their financial institutions adopting enhanced cloud capabilities.

Finastra and NTT DATA's deepening collaboration opens opportunities to reshape the lending infrastructure across APAC and LATAM markets, promising modern, compliant, and scalable solutions that cater to the ever-evolving demands of contemporary financial markets. This partnership not only strengthens Finastra's standing in managed services but also emphasizes its client-first approach and commitment to introducing innovative, cloud-native solutions swiftly and effectively to financial institutions around the globe.

About Finastra

Finastra serves as a global provider of versatile financial services software applications ranging from Lending and Payments to Treasury, Capital Markets, and Universal Banking. With a mission aimed at unlocking the potential of individuals, businesses, and communities worldwide, Finastra is devoted to advancing the future of finance through technology and collaborative efforts. The company has earned the trust of approximately 8,100 financial institutions, including 45 of the top 50 banks globally. For further details, visit finastra.com.

About NTT DATA

NTT DATA stands as a trusted global innovator in business and technology services, generating over $30 billion in revenue annually. Serving a vast clientele, including 75% of the Fortune Global 100, NTT DATA is committed to helping organizations innovate, optimize, and transform for sustainable success. Being recognized as a Global Top Employer, the company operates in more than 50 countries with a rich ecosystem of established and emerging partnerships. NTT DATA's diverse services encompass business and technology consulting, data and artificial intelligence solutions, application development, implementation, and management, making it a leader in digital and AI infrastructure globally. The firm invests more than $3.6 billion yearly in research and development to assist clients and societies in navigating securely into a digital future.