Finastra has been named a leader in a new IDC MarketScape: Worldwide End-to-End Corporate Banking Solution Providers 2019 Vendor Assessment report*. The report assesses vendors on their depth and breadth of functionality, level of integration and forward-looking technology strategy around cloud and APIs.
Torsten Pull, General Manager, Corporate Banking at Finastra said, “Banks are re-evaluating their business models in corporate banking but face the dual challenge of driving down costs and innovating to stay relevant. Disconnected user experience, data and processes hold them back. We see banks looking to strategic vendors, like Finastra, to partner with them on connected, service orientated solutions driven by open APIs, to fulfil the promise of digitizing end-to-end customer journeys and transforming bank operations. The IDC MarketScape’s thorough analysis included deep-dives with our customers and we are thrilled to be named as a leader based on our proven capabilities across transaction banking and lending. It is strong validation for our strategy and recognizes our work to deliver connected corporate banking in a market where very few vendors can provide such end-to-end capabilities.”
This IDC MarketScape highlights how vendor participants must be able to help corporate banks transform digitally to meet challenges around profitability and return on equity – as well as the needs of their clients – for a better, more efficient, and data-centric operation.
“Increasingly, an end-to-end (E2E) capability spanning and integrating the disparate services of a corporate bank, from lending to trade finance, is a key selection criterion. This helps efficiency and services, enabling corporate banks to compete more effectively in the future by knitting together the entirety of their offerings,” said Neil Ainger, Worldwide Research Manager, Corporate Banking, IDC. “Finastra is positioned as a leader in E2E corporate banking. Consider them if you want a large vendor, with a strategic plan, proven capabilities and comprehensive, modularized solutions that can meet end-user needs.”
According to the report, “An efficient end-to-end omnichannel solution provides core bank processing capabilities and spans key functions, such as treasury and lending, to ensure a good customer experience and readily accessible data for internal bank clients. […] Only banks that can provide it – with the help of their solution providers – will survive the squeeze in this marketplace.”
Finastra’s comprehensive and connected corporate banking suite spans the breadth and depth of digital banking and back office solutions for corporate and commercial banking.
Download an excerpt of the IDC MarketScape report here.