Luxoft and Finastra extend partnership to deliver turnkey managed services to banks in EMEA

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May 10, 2023, 05:04 ET

Partnership provides Finastra's Kondor customers with access to cloud-based services for increased agility and lower total cost of ownership

LONDON, May 10, 2023 /PRNewswire/ -- Finastra, a global provider of financial software applications and marketplaces, today announced a new managed services partnership agreement with Luxoft, a DXC Technology company, to support Finastra's Kondor customers in the Europe, Middle East and Africa (EMEA) region with their cloud transformation journeys. The strategic partnership expands the companies' long-standing relationship, which has been in place since 2006. Under the new agreement, Luxoft will become the preferred provider of managed services and hosting for Finastra's solution in the region.

"As a long-standing Finastra partner, we are excited to extend our collaboration to help Kondor customers in EMEA modernize their technology estate, migrate to the cloud, increase agility and reduce total cost of ownership (TCO)," said Rob Easter, Managing Director, Banking & Capital Markets at Luxoft. "With Finastra's industry-leading solution, combined with our extensive delivery expertise, banks will have access to robust services underpinned by the as-a-service cloud-construct model to help them accelerate their growth, innovation and the ability to adapt quickly to new demands."

Finastra Kondor is a best-of-breed trading system that meets financial institutions' needs for sophisticated treasury functionality, while enabling growth and ensuring compliance. Open, flexible, easy to use, and based on microservices, Kondor reduces the cost per trade with complete front-to-back office integration across the full range of treasury trading instruments. The solution offers powerful risk analytics, trade processing, position management and real-time risk coverage. It enables banks to trade high volumes in treasury while offering the flexibility to support more complex derivatives, options and structured trades.

"Partnerships are crucial for Finastra's success, and we take great care when it comes to selecting which companies we collaborate with," said Wissam Khoury, EVP, Treasury & Capital Markets at Finastra. "We also recognize the enormous value of managed services, providing banks with the necessary flexibility and adaptability particularly during times of ongoing uncertainty and change. With extensive expertise in delivering financial services software and knowledge of our Treasury & Capital Markets solutions, we believe that Luxoft is the right partner to provide our Kondor customers in EMEA with seamless services that support their ongoing growth."

The new partnership with Finastra in EMEA complements the existing partnerships that Luxoft has with other vendors. Luxoft remains open to collaborate with other software vendors to deliver turnkey managed services to their customer base.

For more information about Kondor, click here.

Finastra.com

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.
For more information, visit finastra.com

About Luxoft

Luxoft, a DXC Technology Company, is a global banking and capital markets consulting and services provider that offers innovative solutions to clients in various industries, focusing on financial services. Its expertise in operational resiliency, systems monitoring and advanced analytics helps clients improve business operations, increase efficiency and reduce risk. Luxoft has been recognized for significant achievements in the financial services industry in recent years. In 2020, the company was named a "Leader" in the Gartner Magic Quadrant for Application Services in the Banking and Financial Services sector. Industry analysts also acknowledge Luxoft as a leading provider of digital transformation services for financial institutions.

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SOURCE Finastra