Finastra, the newly created company resulting from the merger of Misys and D+H, has announced a new collaboration with Netherlands-based Rabobank.
Rabobank recently announced that it will deploy Finastra’s cross-border payments hub to streamline global payments operations. According to Rabobank, implementation of Finastra’s technology means it can upgrade from legacy operations and reduce operating costs, with most of the financial institution’s needs met through Finastra’s packaged offering.
“After careful consideration and analysis, Rabobank found the global payments services hub to be able to meet our cross-border payments requirements right away,” said Heimen Schuring, head of channel support and payment engine for Rabobank. “We look forward to replacing legacy systems with a single solution that not only meets our current needs but can also expand to satisfy future demand.”
Finastra was equally pleased with the arrangement and potential for future partnerships.
“We are excited that Rabobank has selected our global payment services hub for cross-border payments,” said Mikael Lindh, head of payments sales for Finastra. “Financial institutions today face significant challenges, including pressure to increase efficiency while reducing cost. However, many are realizing that the right solution can help them meet these challenges, including providing more robust cross-border payments and improved capabilities.”
Last week Misys and D+H announced their merger to create Finastra, owned by Vista Equity Partners. According to Vista, Finastra is now the world’s third largest FinTech company with $2.1 billion in revenue and operations across 42 countries. The company is headquartered in the U.K. but will maintain headquarters in Canada as well.
“We firmly believe that Finastra is greater than the sum of its parts,” said Robert Smith, Vista Equity Partners founder, chairman and CEO, when the merger was announced. “The combination of scale, efficiency, and market-leading service and technology will create a powerhouse in the FinTech sector and uniquely position the company to meet the demands of its global customers and the clients.”