Finastra opens Center of Excellence in Kuala Lumpur
Finastra has expanded its footprint by opening a Center of Excellence (COE) at Malaysia’s MRANTI Technology Park in Bukit Jalil, Kuala Lumpur.
The hub for technology innovation, commercial adoption, and scientific excellence will be ideal for Finastra to focus on expanding across the Asia Pacific while contributing to the local economy, and promote STEAM careers in the region.
By joining the MRANTI’s integrated infrastructure and services, Finastra will be able to tap into local IT talent, including from nearby universities and the growing start-up technology community there.
The new COE will champion Finastra’s Lending, Universal Banking, Payments, and Treasury & Capital Markets software solutions across the region.
Finastra will continue to further build on its FusionFabric.cloud open development platform, connecting fintechs and support innovation within the financial services industry. The firm also pledges to bring its ESG philosophy around unlocking the potential of people, business and communities.
The move is supported by Finastra’s investor, Vista Equity Partners, a leading global investment firm focused on enterprise software that has over a dozen companies active in Malaysia.
Growth in Asia Pacific is one of our company’s key strategic commitments
Simon Paris, CEO at Finastra said, “Growth in Asia Pacific is one of our company’s key strategic commitments and opening a Center of Excellence in Kuala Lumpur is an important milestone to help us achieve this goal. This site is a hub for technology innovation and MRANTI’s desire to act as a connector, incubator, and catalyst to transform ideas from early-stage ideation to impact complements our collaborative mantra to drive innovation and technology acceleration around digital trade, digital finance and acceleration to cloud, in line with Government initiatives around digitalization there. It is also a testament to our highly valued Malaysian banking and financial services customers.”
Dzuleira Abu Bakar, Chief Executive Officer of MRANTI said, “Through our recently launched MRANTI Park Master Plan, we seek to inspire the world with a bold new model that accelerates ideas to impact by combining our developmental expertise with tech infrastructure and services for the creation, development and commercialization of technology and innovation. We are excited that a leading fintech company like Finastra is joining our growing community and look forward to supporting local tech innovation to transform our nation’s technology landscape.”
Robert F. Smith, Founder, Chairman and CEO, Vista Equity Partners said: “I’m honored by the long-standing commitment of our Malaysian investing partners and enterprise software customers, and the positive impact they’re enabling in the country. We’re delighted to grow our engagement with direct investment through this Finastra Center of Excellence in partnership with MRANTI, and are excited about further developing local IT talent and increasing opportunities for even more Malaysians.”
Finastra first launched its flagship platform FusionFabric.cloud in 2017 to provide institutions of all sizes with solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking). The firm caters to 8,600 institutions, including 90 of the world’s top 100 banks.