Hong Kong tech firm, ASL, accelerates growth in fintech arena with Finastra

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Aug 08, 2023, 00:51 ET

ASL boosts services offering in Hong Kong and Macau with exclusive partnership to offer Kondor treasury solution in managed service model

HONG KONG, Aug. 8, 2023 /PRNewswire/ -- Automated Systems Holdings Limited (ASL) (771.HK), a leading global IT solutions and services provider, has strategically partnered with Finastra, a global provider of financial software applications and marketplaces, to bolster its industry-specific DevSecOps business and strengthen its fintech trajectory.

Leon Wang, Executive Director and Chief Executive Officer of ASL (right) poses for a photo with Richard Zhu, Managing Director, APAC, Treasury and Capital Markets of Finastra (left)

Under this partnership, ASL has become the sole authorized service provider for Finastra's Kondor solution in Hong Kong and Macau. As ASL continues to build its industry specialization this collaboration enables ASL to provide managed services to financial institutions investing in Kondor, Finastra's comprehensive off-the-shelf front-to-back risk treasury solution. With ASL's expertise in application development (Dev), cybersecurity (Sec) and 24/7 omni channel managed services (Ops), the partnership ensures the seamless integration and smooth operation of Kondor for clients.

Amid favorable fintech policies, including the Chinese government's Fintech Development Plan (2022-2025) and the Hong Kong Monetary Authority's Fintech 2025 strategy, ASL is well-positioned to reinforce its strong presence in the fintech sector. With Hong Kong being one of the Asia Pacific region's key fintech hubs, this partnership enables ASL to expand its reach and venture into the Greater Bay Area. The partnership, integrating Finastra's Kondor system with ASL's managed services, marks a promising milestone in the evolution of fintech and Open Banking sectors.

Wang Yueou, Executive Director and Chief Executive Officer of Automated Systems Holdings Limited, said: "Industry focus has been a pivotal business strategy for ASL. This partnership not only enhances our unified service in the fintech sector but also lays a solid foundation for providing industry-as-a-service. Our extensive DevSecOps IT managed services cover fintech organizations' needs throughout the entire IT lifecycle, in on-premise, hybrid, and multi-cloud environments. We are committed to investing in our clients' businesses, as always."

Richard Zhu, Managing Director, APAC, Treasury and Capital Markets, Finastra, said: "We are thrilled to partner with ASL, a company known for its deep industry expertise and commitment to client success. Kondor is a best of breed trading system that meets the growing need for more sophisticated treasury solutions, and we believe this collaboration will foster even greater innovation and efficiency in Hong Kong and Macau's financial sectors, reflecting the shared vision of both Finastra and ASL."

For over two decades, ASL has harnessed the power of technology to deliver end-to-end IT managed services with industry-specific focus, driving businesses in Asia Pacific and managing over 160,000 devices and 220,000 users globally. ASL's service record, boasting a customer base with an average trust span of 7 years, includes more than 60% listed companies, among which are globally recognized names, including a Fortune 500 company. The strength of ASL lies in its experience, maturity model, AI-powered platforms – Unified Operation Center, Security Operation Centers and Service Center, and a holistic approach that combines people, processes, and technology to deliver innovative, secure, and reliable IT services.

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 solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital 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.

For more information, visit finastra.com.

About Automated Systems Holdings Limited

Automated Systems Holdings Limited ("ASL Group" or "The Group") has been listed on the Stock Exchange of Hong Kong Limited since 1997 (Stock Code: 771). The Group is based in Hong Kong and Macau and its businesses cover Asia Pacific, Europe and the United States. The core businesses of the Group are Innovative Solutions, Intelligent Cybersecurity Services and Integrated Managed Services. With ASL's 18 research and development centers worldwide, over a thousand of high caliber experts, and more than 50 years of experience in providing professional IT services to global users, ASL is customers' professional and trustworthy unified technology services partner.

For more information, please visit our web page at http://www.asl.com.hk

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SOURCE Finastra