Finastra & Luxoft to offer turnkey managed services to banks in EMEA

By Gloria Methri

Finastra has entered a partnership with DXC Technology company Luxoft, to support its Kondor customers in the Europe, Middle East, and Africa (EMEA) region with their cloud transformation journeys.

The partnership expands the long-standing relationship between the two companies 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 trading system that meets financial institutions’ needs for sophisticated treasury functionality while enabling growth and ensuring compliance. Open, flexible, and based on microservices, Kondor reduces the cost per trade with complete front-to-back-office integration across treasury trading instruments.

The solution offers risk analytics, trade processing, position management, and real-time risk coverage. It enables banks to trade high volumes in the 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, of Treasury & Capital Markets at Finastra.

“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.”