The Record - Issue 18: Autumn 2020

135 operating model – delivered through Finastra’s Fusion Essence Cloud and Microsoft Azure – TONIK is able to offer customers the products and services they need in a convenient way, as well as helping to drive financial inclusion. It’s not just retail banking customers who can benefit from digital transformation. Supporting businesses is crucial in keeping economies mov- ing. CIH Bank in Morocco recently digitised its end-to-end corporate banking services. The lockdown meant the bank needed to remove every manual step from the banking process and ensure business continuity for all customers, enabling them to access services online, rather than in-branch. Despite not being able to work onsite during the pandemic, the teams from CIH Bank and Finastra worked closely together to complete 70 per cent of the project remotely. A crisis situation often forces new ways of looking at things and stimulates innovation. For example, when Covid-19 hit, community-focused banks and credit unions in the USA found they needed to provide access to critical financial assistance for small businesses impacted by the pandemic under the CARES Act. Finastra piv- oted to build a CARES Act solution and it is estimated that over $6 billion in loans have been processed through the system, helping over one million people receive pay cheques and support their families. There are undoubtedly more opportunities for Finastra and our partners across the world to help banks and other financial services provid- ers better support the communities they serve; be that through accelerating digital transforma- tion, increasing automation, or using artificial intelligence and other advanced technologies to deliver added value. The need to be agile and responsive has never been greater. Covid-19 is accelerating the appe- tite for digital transformation. We have a key role to play with our partners in helping banks and financial institutions accelerate through change and support their customers in the best way pos- sible. At a time when economies and commu- nities have been hard hit, it’s so important that we share our collective expertise in technology transformation and delivering on our vision to redefine financial services for good. Denise Parker is the senior vice president of partners and ecosystem at Finastra  F I NANC I A L S E R V I C E S