Finastra has entered a strategic partnership with Total Information Management Corporation (TIM Corp) to offer cloud-based treasury solutions tailored for banks in the Philippines. The collaboration aims to improve operational efficiency and reduce infrastructure complexity through the deployment of Finastra’s Opics core treasury platform combined with TIM Corp’s managed services capabilities.
The joint solution offers financial institutions an integrated system that supports treasury operations with scalability, flexibility, and cost efficiency. The cloud-based delivery model is expected to lower total cost of ownership and provide seamless transformation for banks seeking digital modernization.
Finastra is Bringing Cloud Banking Solutions Across APAC
Migs De Guzman, Senior Assistant Vice President, Financial Services Business at TIM Corp, commented, “Our partnership with Finastra represents a significant step forward in delivering advanced treasury and banking solutions to financial institutions across the Philippines. Combining Finastra’s global expertise with TIM Corp’s local knowledge and infrastructure, we can empower our clients to embrace digital transformation while improving operational efficiency.”
Finastra’s Opics solution serves as the centerpiece of the offering, delivering functionality across front-to-back office treasury processes, including real-time risk management and regulatory compliance support. The partnership enables local financial institutions to outsource infrastructure management while gaining access to a globally recognized treasury system.
Richard Zhu, Managing Director for Treasury and Capital Markets (APAC) at Finastra, said, “This partnership fills a crucial gap in the region by providing local banks with access to a world-class treasury solution backed by TIM Corp’s managed services expertise. We are confident this will drive sustainable growth and innovation for clients. It also reinforces Finastra’s commitment to empowering financial institutions globally while strengthening its local presence in the Philippines.”
The initiative reflects Finastra’s broader regional strategy to expand digital capabilities and support financial institutions with cloud-native applications across Asia Pacific.
Finastra Appointed Chris Walters as CEO
Earlier this year, Finastra announced that Chris Walters officially joined the company to succeed Simon Paris as CEO after nearly ten years at the helm.
Chris Walters, who previously led Pluralsight and Avantax, brings a strong track record of driving innovation and scaling operations. His leadership at Avantax culminated in the company’s successful sale, and his prior experience spans key roles such as Partner at McKinsey & Company and Chief Operating Officer at Bloomberg Industry Verticals Group.
The transition between Paris and Walters will be managed over the coming months to ensure continuity and stability. As Finastra prepares for its next strategic phase in 2025, the company is poised to build upon its recent successes and continue expanding its influence in the financial technology sector.
Simon Paris leaves behind a legacy of notable achievements that have positioned Finastra as a major force in the financial technology landscape. Highlights of his tenure include:
- Spearheading Finastra’s leadership in Open Finance following the 2017 merger of Misys and D+H, which created the company in its current form.
- Cultivating a client base of over 8,000 institutions across 130 countries, including 45 of the world’s top 50 banks.
- Driving the company’s recognition as a leader in Generative AI, with all employees upskilled and approximately 50 AI capabilities in development.
- Earning Finastra top accolades, including recognition as the #1 Banking Technology company and the #2 Financial Technology company globally, as well as a top 15 spot among all software companies in 2024.
- Delivering record-breaking financial results and achieving consistent double-digit Annual Recurring Revenue (ARR) growth.
“This journey with Finastra has been a privilege. Chris is a seasoned professional, and I am honored to ‘pass the baton’ to him. I leave incredibly proud of what Finastra has achieved so far and excited for the company’s future under Chris’s leadership,” Paris said.
Finastra offers Sumsub’s KYC solutions to client base of 8,500 firms
One of the most recent moves by Finastra was the partnership with KYC solutions provider Sumsub. The fintech now offers Sumsub’s Know-Your-Customer (KYC), Know-Your-Business (KYB), fraud prevention, and ongoing transaction monitoring capabilities to its client base of 8,500 financial institutions around the globe.
The integration will enable banks to onboard new users swiftly, perform anti-money laundering (AML) screening on customers, verify business clients, and monitor for fraud and suspicious transactions with the option to adopt and manage all features through a single platform.
The collaboration streamlines customer onboarding processes for banks, ensuring efficiency, while Sumsub’s solutions mitigate potential fraud expenses that might hinder their financial performance.
Descubra mais sobre
Assine para receber nossas notícias mais recentes por e-mail.