Finastra partners with Aspire Systems to facilitate payments modernization and instant payments for financial institutions globally

March 23, 2023
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Finastra, a global provider of financial software applications and marketplaces, today announced its partnership with Aspire Systems, a global technology services firm, to enable financial institutions worldwide to transform their payments operations and accelerate their instant payments offerings. With Finastra’s Payments To Go and Aspire Systems’ implementation and system integration capabilities, customers will benefit from an end-to-end, multi-rail payments processing SaaS solution, available on Microsoft Azure. They will have direct access to networks such as TARGET Instant Payments Settlements (TIPS) from The European Central Bank, the US real time payments (RTP) and FedNow, and SWIFT.

“Facilitating instant payments is a key priority for banks, particularly as customer demand continues to soar,” said Sylvie Boucheron-Saunier, Global Chief Revenue Officer, Payments at Finastra. “As a highly agile and configurable solution, Payments To Go, available as a cloud-based managed service, enables banks to evolve with ongoing innovation and regulatory demands, quickly, at a low cost and with added security. By partnering with Aspire Systems, we can deliver our evergreen solution to financial institutions globally through the organization’s expertise in delivery and implementation, as well as its value-added services such as for Variable Recurring Payments, Request to Pay and Confirmation of Payee.”

Finastra has extensive experience in the payments industry, with its Global PAYplus solution recently named as best-in-class in Aite-Novarica Group’s Matrix Evaluation of Payment Hub Vendors. Payments To Go provides end-to-end payment processing as a scalable SaaS model, enabling banks to accelerate their instant payments services roll-out and deliver flexible digital payment offerings faster and more efficiently. By reducing complexity and operational costs, institutions can implement new offerings – such as the US FedNow network, the UK’s New Payments Architecture (NPA) and compliance with the proposed EU instant payments regulation – and drive business growth. Integrated with Finastra’s open platform for innovation, FusionFabric.cloud, they can also adopt value-added services quickly and seamlessly.

“With the shift to Payments 4.X, focusing on the customer experience, financial institutions are looking for a convergent payment solution that is compliant, composable and cost-effective,” said Suresh Ranganathan, Global Head of Banking and Financial Services at Aspire Systems. “With the combination of real time payment support, marketplace integration and Open Banking enablement, our partnership with Finastra will increase value for our customers and help them go to market faster and stay nimble. Finastra’s solution maturity, with Aspire’s technology and domain expertise, will accelerate customers’ strategic and tactical payment modernization efforts as the industry moves into Open Finance.”

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world’s top 100 banks.

About Aspire Systems

Aspire Systems is a global technology services firm serving as a trusted technology partner for more than 250 customers across the globe. Aspire works with leading banks and financial institutions across the globe by helping them leverage technology across every step of their digital transformation journey.

Its proven approach to Software Engineering & Digital Technologies and strategic partnerships empowers financial institutions to create superior experiences, bring operational efficiency and embrace their future. Aspire’s expansive banking landscape expertise includes retail banking, corporate banking, wealth management, financial services, and inclusive banking.

Aspire’s core philosophy of ‘Attention. Always.’ communicates its belief in lavishing care and attention to its customers and employees. The company currently has over 4500 employees globally and is CMMI Level 3 certified. It operates across North America, LATAM, Europe, Middle East, and Asia Pacific. Aspire Systems has been recognized for the 12th time in a row as one of India’s Top 100 ‘Best Places to Work For’ by the Great Place to Work® Institute.

To know more about Aspire Systems, visit https://www.aspiresys.com/

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