Managed services partnership provides a payments-as-a-service solution for select European banks
Elly Yates-Roberts |
Finastra has partnered with IT service management company Hexaware to provide managed services for Finastra’s cloud-enabled payments solutions.
The move enables Hexaware customers in Germany, Belgium, the UK and Ireland take ownership of their payment infrastructure, with the partnership providing mid-sized banks with an end-to-end payments-as-a-service (PaaS) offering.
“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,” said Chinmoy Banerjee, corporate vice president and global head of banking at Hexaware. “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.”
To address the challenges associated with domestic and cross-border digital payments, Hexaware will become a managed service provider for Finastra’s payments solutions, managing the payment licenses and supporting implementation, hosting and maintenance services for its customers.
“Hexaware’s expertise and outstanding reputation has led them to experience industry-leading growth for the past three years,” said Oren Marmur, senior vice president and general manager of payments at Finastra. “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.”