Finastra is bringing its mortgage lending solutions to the cloud via Microsoft Azure. As part of the strategic alliance between the two companies to use Microsoft’s enterprise-ready, trusted cloud platform as a base for a selection of Finastra’s payments and retail banking technology, Finastra’s Fusion MortgagebotLOS product is now available via the Azure cloud. As of today, US clients that access this service will realize streamlined access to their data, improved operational control and increased productivity.
By accessing technology remotely via the cloud, financial institutions benefit from a flexible cost structure in which they can access only the resources required, and where system upgrades are rolled out immediately and automatically. Cloud technology also offers enhancements in availability, disaster recovery, environment / process monitoring, mobility and collaboration.
Finastra already uses the Azure cloud platform to deliver its payments solutions and more business lines will move to the cloud over the next 12 months. The addition of Fusion MortgagebotLOS to the cloud advances Finastra’s commitment to deliver the broadest portfolio of solutions for financial institutions of all sizes, on premises or in the cloud. Fusion MortgagebotPOS, which allows lenders to receive accurate, qualified mortgage applications through every point-of-sale channel, will be available on the Azure cloud in the coming months. The alliance between Finastra and Microsoft, announced in March, also serves to underpin Finastra’s FusionFabric.cloud open platform for innovation.
“Finastra is changing the way software is written, deployed and consumed as part of our open vision. Within that mantra we are committed to helping our customers embrace innovation and giving them choice when it comes to software delivery models. Bringing Fusion MortgagebotLOS to the cloud is a significant step forward in changing how clients can access and benefit from our solutions,” said Simon Paris, Deputy CEO, Finastra. “By teaming up with Microsoft, we have a partner that shares both our vision and our values for providing a secure, highly-available and proven cloud platform.”
Janet Lewis, Vice President of Worldwide Financial Services at Microsoft said, “Together, Finastra and Microsoft Azure are able to offer our mutual clients greater flexibility in how they receive Finastra’s solutions. Using the Azure cloud platform, banks are now able to access Finastra’s loan origination software in a manner that reduces cost of ownership and simplifies solution updates.”