Corvallis taps Finastra to drive digital transformation for Italian banks

By Gloria Methri

Finastra, a global provider of financial software applications and marketplaces, has partnered with Corvallis and Tinexta Group to support Italian banks with their digital transformation journeys.

With Finastra’s Essence, a SaaS solution deployed on the cloud via Microsoft Azure, Corvallis’ customers can upgrade their business models, embrace new innovations and adapt to customers’ demands.

“Cloud adoption is becoming increasingly significant in Italy for all financial institutions,” said Roberto Casalini, Digital Tech Business Line Director at Corvallis. “This is bringing greater efficiencies and flexibility to the sector, enabling banks to scale as required, optimize resources and enhance security. Deploying Essence will give them the ability to quickly transform their operations at a reduced cost while providing their customers with the end-to-end, personalized, and seamless experiences they expect. Above all, Finastra will help our customers achieve success, today, tomorrow, and always.”

Essence is a cloud-first, next-generation digital banking solution that combines sophisticated functionality and advanced technology to increase enterprise agility, reduce costs and improve operational efficiency.

Powered by open architecture and integrated with FusionFabric.cloud, Essence’s rich, broad, and deep retail and commercial banking functionality enables institutions to rapidly deploy market-leading products and services.

Banks can also tap into Finastra’s Retail Analytics, which delivers a 360° view and turns raw data into actionable insights. Corvallis provides implementation expertise and complementary solutions, such as for anti-money laundering (AML), payment and settlement, and fraud management.

Saraswathy Parthasarathy, COO, of Universal Banking at Finastra said, “Collaborating with trusted and experienced partners is integral for Finastra’s growth and success. With more than 30 years of experience in supporting Italian financial institutions, we believe that Corvallis has the skillset required to deliver our solution to a wider pool of Italian banks, through a smooth and seamless customer experience.”