Finastra has expanded its longstanding partnership with global IT services provider NTT DATA to enhance its Lending Cloud Service.
The move will strengthen managed services for financial institutions in the Middle East, Africa, Asia Pacific, and Latin America.
NTT DATA will lead application lifecycle management for the service to improve scalability, standardisation, and operational efficiency.
The companies said this will help banks speed up deployment, automate processes, and deliver more agile lending operations.
The jointly developed solution includes tools to measure, report on, and fulfill service-level commitments.
For NTT DATA, the collaboration is also a strategic opportunity to expand its product portfolio, with a joint go-to-market strategy already underway to extend its reach.
Finastra’s latest survey found 27% of financial institutions globally improved or deployed cloud solutions in the past year, with adoption rates in Vietnam at 56%, Hong Kong at 46%, and Singapore at 44%.
The partnership will support the shift toward cloud-based, API-enabled technologies, which many markets now see as essential to staying competitive.
Andrew Bateman, EVP for Lending at Finastra, said,
“This is a natural evolution of our relationship with NTT DATA, a partner that deeply understands our technology landscape and shares our vision for delivering world-class, cloud-based lending services.
By partnering with a company familiar with our architecture and operating models, we can accelerate client onboarding and provide a resilient, high-performing service.”
David Gold, Vice President for Cloud Services and IT Modernisation at NTT DATA, added,
“We are proud to extend our partnership with Finastra as part of a broader strategic vision. Our experience in large-scale financial environments positions us well to help Finastra deliver highly automated, reliable cloud services to banks across these regions.
This partnership brings together innovation and operational excellence to transform the banking experience.”
Featured image: Edited by Fintech News Singapore, based on image by brilian via Freepik
