Finastra & HCL team up to offer Digital Treasury as a Service in the cloud

By Megha Bhattacharya

Finastra has announced a partnership with HCL Technologies in a bid to provide treasury management technology in the cloud to smaller banks across Northern Europe, North America, India and the Philippines. The collaboration also brings together Digital Treasury as a Service offering, that aims to enable banks to effectively manage their treasury operations.

“Market dynamics, increased regulation and competitive pressure to scale mean that the treasury market is ripe for transformation,” said Denise Parker, SVP, Partners and Ecosystem at Finastra. “Our strategic partnership with HCL lets us use our combined market reach, agility and scale, to help banks transform and grow their operations in a sustainable and cost-effective way. Banks using the solution can realize significant efficiency gains, manage risk more effectively, react more quickly to market demands and take advantage of future growth opportunities.”

According to Finastra, HCL’s Digital Treasury as a Service is powered by Fusion OPICS treasury software and is hosted on Microsoft Azure. Fusion OPICS is expected to offer support for global treasury trading operations, compliance and risk management and enables banks to transform and automate core treasury operations. HCL’s new solution will also comprise features of FENIX 2.0, CyberSecurity Fusion Center and ElasticOps.

Rahul Singh, President of Financial Services at HCL Technologies said, “The combination of HCL’s next-generation cloud native services and Finastra’s leading treasury software will deliver a seamless customer experience. Our Digital Treasury as a Service will also ensure that banks are future-proofed, improve their risk management and continue to enjoy the latest digital capabilities, as both the treasury application and the cloud technology that underpins it, continue to evolve. HCL is proud to partner with Finastra and help banks to continue to grow.”

Recently, Finastra announced that Fusion Invest, its investment management solution, is now available to customers via the cloud. The new development is expected to help asset managers to boost their operational efficiency and agility.