Finastra joins Bahrain FinTech Bay to accelerate bank and Fintech collaboration in the Middle East
Leading innovation hub brings opportunities to drive open innovation via FusionFabric.cloud
London, UK, 30 August 2018, Finastra today announced that it has joined Bahrain FinTech Bay. With one of the most diverse and dynamic networks across the Middle East and Africa, the Fintech hub brings together key financial services players, from financial institutions, banks and investors to Fintechs, developers, industry bodies and academics, to drive innovation and create new opportunities for growth.
Wissam Khoury, Managing Director for the Middle East and Africa at Finastra said, “Now couldn’t be a better time to be part of this community as the Bahrain Fintech scene heats up. Working with Bahrain FinTech Bay will allow us to further collaborate with local Fintechs and banks, as the financial services landscape moves towards an open banking architecture. Our platform for open innovation, FusionFabric.cloud, is well positioned to help the ecosystem in its transition and will play a key role in doing so.”
Through this membership, Finastra will have access to key industry events and Bahrain FinTech Bay’s own events on Blockchain, Insurtech and Regtech, and collaboration opportunities with other partners and industry players. The company will also become a resident of Bahrain FinTech Bay, to be at the heart of the ecosystem.
Khalid Saad, CEO of Bahrain FinTech Bay, said, “We are delighted to welcome Finastra, a global Fintech force on board. Becoming a partner of Bahrain Fintech Bay will allow Finastra to increase collaboration with the local financial services ecosystem. With such a versatile community, it is crucial for us to have partners that share our vision of bringing all the actors together in one place to inspire innovation. Finastra and FusionFabric.cloud will play a key role in the ecosystem, enabling our Fintechs to collaborate, develop new applications at speed and low cost, and make these services easily accessible to banks and financial institutions in the region, and around the world.”
Bahrain FinTech Bay was established earlier this year as part of a continued push in Bahrain to create the region’s leading startup ecosystem. The hub currently counts over 50 partners, including banks, corporates, government bodies, universities and Fintechs.
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Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.
Please visit finastra.com.
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