Company Overview
Finastra was founded in 2017 and is currently headquartered in London. The financial software company was formed by merging Misys, a London-based financial operations software provider, and D+H, a lending technology and global payments company. When Finastra was established, it was the world’s third-largest financial services company. Today, they provide many products and solutions for treasury capital markets, retail, lending, and transaction banking.
Finastra currently has 8,600 financial institutions on its clientele list. The company provides top-notch software applications and market connectivity and orchestrates futuristic financial services through its open platform. Finastra operates with a collaborative approach that empowers them to redefine finance, bridge the SME funding gap, improve financial inclusion, eliminate bias and combat inequality.
Key Executives
The critical member on Finastra’s executive board are:
- Simon Paris – Chief Executive Officer
Simon Paris is responsible for Finastra’s strategic direction and growth. Simon deploys his strategic talents to promote the company’s core tech solutions and open development platforms to facilitate collaboration and innovation and to unlock the potential of businesses, people, and communities.
- Neil Blagden – Chief Operating Officer
Finastra’s Chief Operating Officer, Neil Blagden, leads Cornerstone, the company’s lending and enterprise business, as its MD and Executive Vice President. The seasoned digital leader also manages its operational strategies related to global services, IT, and automation.
- Isabel Fernandez – EVP Lending Business Unit
Finastra’s Lending Business Unit is helmed by Isabel Fernandez, who brings an incredible wealth of financial services and technology-led transformation expertise. In addition to digital transformation and sustainable climate action, she is passionate about banks, customers, and government collaboration to create a more sustainable society.
- Carissa Kell – Chief Financial Officer
Finastra’s Chief Financial Officer, Carissa Kell, holds many of the company’s reins, such as Financial Planning and Analysis, Accounting, Investor Relations, Treasury, Tax, Finance Transformation, Procurement, and Sales Operations. With over 20 years of experience in global leadership, finance, accounting, mergers and acquisitions, and sales operations, she brings a wealth of knowledge to the company.
Products & Services
- Lending
For consistent, secure, and transparent information exchange, Finastra offers a full suite of lending solutions that deliver a seamless digital borrower experience for lenders and agents.
- Payments
Finastra offers the latest modular, cloud-ready, easy-to-integrate payment processing solutions to eliminate silos and usher in global treasury and transaction services.
- Global Banking
Finastra’s retail banking software is designed with integrated solutions for credit unions, retail banks, global banks, commercial banks, community banks and credit unions.
- Connected Corporate Banking
The company’s connected corporate banking platform provides a seamless corporate-centric transaction journey across the entire corporate banking lifecycle.
- Trade Working Capital Finance
Through its cloud-based Trade Finance and Supply Chain solutions, Finastra reframes corporate banking through a single digital working capital platform that:
- Automates compliance to mitigate risks & costs
- Harnesses open ecosystems for rapid innovation
- Unlocks customer value to grow business
Company Reviews
- After a significant rise in rankings over the previous year, Finastra was ranked fifth among the top 100 global technology providers and was named Fast Track FinTech.
- Finastra won the World Finance Sustainability Awards 2022 in the fintech category for its commitment to sustainability.
- In the B2B Marketing Awards 2022, Finastra’s website redesign with Elevated Third won the bronze award.
- Finastra’s COO, Neil Blagden, ranks amongst the Top 25 Financial Technology COOs of 2022.
- Tamila Fathi, Finastra’s technology and cybersecurity leader ranks 8th in Business Chief’s Top 10 Women Leaders in Fintech in North America 2022.
Related News
Finastra connects with Contour for enhanced digital trade finance capabilities.
October 10, 2022.
Finastra announced a strategic collaboration at Sibos 2022 in Amsterdam to integrate its Fusion Trade Innovation software with Contour, the global digital trade finance network, giving banks and corporations streamlined back-office processes. With either platform at their disposal, users can access their data, increase efficiency and expedite Letter of Credit processing. This move is expected to open doors for better finance access and increased bank investment return.
Finastra’s Alexandrou takes up a new role in trade finance.
March 29, 2022.
Finastra’s Jenny Alexandrou will now be the lead project manager for trade and supply chain finance. Alex Alexandrou is based in London and reports to Anastasia McAlpine, Finastra’s head of products. Joining Finastra after twenty years of services at Temenos, Alexandrou will be responsible for developing the company’s strategy and essential product features and developing company requirements. She will also supervise the development cycle.
Ransomeware attack hampers Finastra’s financial transactions.
March 25, 2022.
Millions of dollars worth of financial transactions were delayed by a ransomware attack on Finastra on March 25, 2022. The attack came at a time when Finastra was busy implementing safer working processes for its globally-placed employees in light of the pandemic. The attack forced the company to pull servers offline, and its CEO, Simon Paris, apologised to customers for issues with lost financial wire transactions.
Following the attack, Finastra’s team worked overtime to restore transactions and services lost in the attack. The company has also stepped up its security measures to protect its data, customers, systems, and applications.
Tesselate and Traydstream partner to interface with Finastra Trade Finance.
January 21, 2022
Tesselate is one of Finastra’s most significant System Integrators partners for Fusion Trade Innovation. Traydstream provides automated document and compliance checking for international trade transactions. Traydstream’s proprietary Intelligent Optical Character Recognition engine and automated Trade Rules checks enable over 300,000 permutations. These permutations are integrated with back-end systems, such as Finastra FTI.
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