Traditionally, relationships between banks and technology vendors have been transactional and ad-hoc, with a focus on individual projects.
To achieve the benefits transformational programmes set out to deliver, financial institutions are looking for more engagement from their technology partners with an approach that focuses on outcomes. This means going beyond delivering isolated projects to supporting clients throughout the entire lifecycle.
To ensure the success of your transformation program, our research suggests:
Take a holistic view of technology transformations
Use cloud technology to your advantage
Choose an outcome-orientated approach
Select a strategic partner, who works towards agreed goals and joint success
Greenwich Associates found that where relationships between banks and their suppliers have traditionally been more ad-hoc and transactional, banks are now seeking more engagement and interaction throughout the entire project lifecycle, looking for a higher touch, long-term relationship.
Among its many benefits, cloud has the power to increase flexibility, agility and security. The move to cloud is inevitable, with 40% of firms in our study planning to increase their use of platform-based solutions over the next 3-5 years. What is holding banks back from embracing the benefits of managed services?
In this Greenwich Report, we examine the role that selecting the right vendor plays in the overall success of technology transformations and how that vendor can help avoid many of the common pitfalls organizations encounter along the journey. Explore what the hallmarks of a top-tier services partner are in our research.
Our unique approach to engagement
Finastra High-value Services
Finastra High-value Services are designed to help financial institutions achieve specific outcomes. They help firms to modernize, transform and realize the full value of technology investments, faster, all while minimizing risk and total cost of ownership.
Our High-value Services comprises a range of solutions to help you achieve specific outcomes:
Establishing a firm foundation for effective managed services
We take a holistic approach, establishing client outcomes at the outset and leverage our IP to optimize cost and quality of ownership, and supporting your ongoing business agility.
Finastra Managed Services
Driving outcomes through a software led managed service
Finastra Managed Services can support you on your journey to open systems and cloud. Built on market leading technology, extensive IP and accelerators, we offer a complete and flexible managed services offering, designed to achieve zero-defect software. Our high value managed services offering drives continuous, strategic value to optimize both cost and quality of ownership across your Finastra software landscape.
A holistic approach to achieve full lifecycle value
We build a tailored success plan with your business priorities at the center, leveraging capabilities from across Finastra programmatically to support your objectives.
Hear it from our customers
Commonwealth Bank of Australia: A first in the world solution for institutional lending
Find out how commonwealth bank of Australia has successfully deployed new cloud-based institutional lending capabilities with Finastra Managed Services.
Find out more about our High-value Services:
See our full Services portfolio
Finastra Advance is designed to deliver upgrades smoothly and efficiently with minimal disruption.
A new approach
Traditionally, upgrading is a disruptive process that ties up business and IT resources, and exposes the business to risk. It’s also often a ‘one-shot’ exercise with little focus on the future.
With Finastra Advance, the majority of assessment, build and testing work is led by Finastra, typically remotely in an Accelerated Delivery Center. We then deliver a tested solution ready for client validation, minimizing demands on your team.
Our upgrade components are designed for easy re-use, creating a smoother upgrade process and adding incremental value and agility, without disrupting business as usual. Our outcome-oriented approach delivers effective, maintainable solutions which optimize your cost and quality of ownership.
Whether you’d like to lead your own project, or work with a partner, Finastra are on-hand to support your success.
Allow us to support you at crucial stages of your IT project, providing validation to ensure Finastra best-practice, predictability and reducing your overall total cost of ownership.
Finastra Project Support
You can also take advantage of Project Support to help ease troubleshooting, accelerate issue resolution and maximize solution value.
Our comprehensive range of training and certification options embed valuable expertise throughout Finastra customers and partners.
Finastra Knowledge Services build the expertise of your people in a way that matches your business needs, and their learning style.
Training programs to suit your requirements
Online, self-paced learning
For training on demand, we offer the option to subscribe and get access to all our training programs or purchase specific courses for your solutions, allowing you to empower your employees with minimal disruption.
Instructor led learning
For an instructor directed learning experience, we offer training in-person or remotely with our subject matter experts to embed our expertise into your organization.
We offer certifications for those that wish to specialize and demonstrate their knowledge, either for partners who want to work with our customers, or for customers looking to stay up to date and boost performance for their business.
Our Support Services are designed to give you the engagement and guidance that you need, when you need it.
Want to speak to someone about your solutions? Visit our Standard Support page to get the support you need, today.
Preferred Active Support
Take a proactive approach to product resiliency and efficiency while optimizing usage and ROI, and minimizing risk with a global, collaborative team of Finastra experts, on hand to help you achieve your objectives.
Extended Support Services
Need one-off additional support? Take advantage of our Extended Support Services to get extra support beyond standard.
Finastra Inception is a collaborative design engagement that ensures you are well prepared to launch a solution that meets your customer expectations and addresses your challenges. Over a four week period, we work with you to create a roadmap to achieve your initial desired outcomes, and beyond.
Leveraging an agile approach to:
- Accelerate time to market
- Reduce project risk
- Meet business needs
With a range of optimization services, we help you to get the optimum performance and value from your chosen solution – from architecture, to business processes, to solution management, Finastra can help find the optimizations that lead to increased value.
Architecture Review and Design Authority
Highlight opportunities to improve architecture and ensure proposed changes are considered and managed in a controlled framework that supports your strategic goals.
Business Process Optimization
Improve efficiency and reduce risk by streamlining and optimizing key business processes. Finastra experts can help you identify opportunities to improve process speed, cost, error rates, and optimize value from your Finastra solution.
Technical Health Check
Finastra consultants can review the setup, management and maintenance of your solution, and help you find opportunities to increase efficiency, mitigate risk and increase operational resilience.
Solution Specific Optimizations
Our experts can use analysis, tools and best practices to help you enhance and optimize your system.
Finastra Adopt is designed to make sure your Finastra solution is implemented on time, on budget and in line with your requirements to help you increase agility, maximize ROI and mitigate risk.
Finastra Adopt solves the challenges of implementation projects without compromise, to accelerate delivery, reduce costs and risk. We take an outcome-oriented approach, and leverage best practices and automation, to deliver high quality and maintainable solutions which maximize your return on investment.