Finastra partners with Aspire Systems to facilitate payments modernization and instant payments for financial institutions globally
Finastra, a global provider of financial software applications and marketplaces, today announced its partnership with Aspire Systems, a global technology services firm, to enable financial institutions worldwide to transform their payments operations and accelerate their instant payments offerings. With Finastra's Payments To Go and Aspire Systems' implementation and system integration capabilities, customers will benefit from an end-to-end, multi-rail payments processing SaaS solution, available on Microsoft Azure. They will have direct access to networks such as TARGET Instant Payments Settlements (TIPS) from The European Central Bank, the US real time payments (RTP) and FedNow, and SWIFT.
"Facilitating instant payments is a key priority for banks, particularly as customer demand continues to soar," said Sylvie Boucheron-Saunier, Global Chief Revenue Officer, Payments at Finastra. "As a highly agile and configurable solution, Payments To Go, available as a cloud-based managed service, enables banks to evolve with ongoing innovation and regulatory demands, quickly, at a low cost and with added security. By partnering with Aspire Systems, we can deliver our evergreen solution to financial institutions globally through the organization's expertise in delivery and implementation, as well as its value-added services such as for Variable Recurring Payments, Request to Pay and Confirmation of Payee."
Finastra has extensive experience in the payments industry, with its Global PAYplus solution recently named as best-in-class in Aite-Novarica Group's Matrix Evaluation of Payment Hub Vendors. Payments To Go provides end-to-end payment processing as a scalable SaaS model, enabling banks to accelerate their instant payments services roll-out and deliver flexible digital payment offerings faster and more efficiently. By reducing complexity and operational costs, institutions can implement new offerings – such as the US FedNow network, the UK's New Payments Architecture (NPA) and compliance with the proposed EU instant payments regulation – and drive business growth. Integrated with Finastra's open platform for innovation, FusionFabric.cloud, they can also adopt value-added services quickly and seamlessly.
"With the shift to Payments 4.X, focusing on the customer experience, financial institutions are looking for a convergent payment solution that is compliant, composable and cost-effective," said Suresh Ranganathan, Global Head of Banking and Financial Services at Aspire Systems. "With the combination of real time payment support, marketplace integration and Open Banking enablement, our partnership with Finastra will increase value for our customers and help them go to market faster and stay nimble. Finastra's solution maturity, with Aspire's technology and domain expertise, will accelerate customers' strategic and tactical payment modernization efforts as the industry moves into Open Finance."