Finastra and TIM Corp Join Forces for Treasury Innovation
Finastra, a prominent provider of financial services software applications, has officially partnered with Total Information Management Corporation (TIM Corp) to transform treasury solutions in the Philippines. This partnership aims to address the challenges faced by financial institutions in treasury services through innovative cloud-based technology and superior managed services.
Introducing a New Treasury Management Solution
The strategic collaboration between Finastra and TIM Corp will bring forth a comprehensive cloud-based treasury management solution, specifically designed to lower the total cost of ownership (TCO) and simplify the management of infrastructure for banks. This introduction promises several key benefits, including easy transitions to the cloud, scalability, flexibility, and comprehensive options for outsourcing that will significantly improve both operational and technical efficiency.
Empowering Local Banks with Expertise
Migs De Guzman, Senior Assistant Vice President of Financial Services Business at TIM Corp, expressed, "Our partnership with Finastra signifies a major advancement in offering top-tier treasury and banking solutions to financial institutions. By merging Finastra's global know-how with TIM Corp’s local insights, we can support clients in effectively navigating digital transformation and enhancing their operational efficiency."
This powerful alliance enhances Finastra's capabilities, allowing the firm to provide customized solutions to regional banks. It represents Finastra's unwavering dedication to driving innovation and alignment in the financial industry, particularly in the Asia-Pacific region.
Enhancing Service through Strategic Collaboration
Richard Zhu, Managing Director for Treasury and Capital Markets (APAC) at Finastra, remarked, "This collaboration bridges a notable gap in the market by giving local banks access to an advanced treasury solution, backed by TIM Corp’s expertise in managed services. We are optimistic this partnership will promote sustainable growth and foster innovation among our clients. Furthermore, it reinforces our pledge to empower financial institutions worldwide while bolstering our stature in the local market."
About Finastra
Finastra, a leading global provider of financial services software applications, spans across various sectors including Lending, Payments, Treasury and Capital Markets, as well as Universal Banking. The company's mission focuses on unlocking opportunities for individuals, businesses, and communities globally. Finastra is dedicated to accelerating the journey towards Open Finance through technology and collaboration, earning the trust of about 8,100 financial institutions, including a substantial number of the world’s top banks.
About TIM Corp
Total Information Management Corporation (TIM) serves as a dedicated partner in Data Center Services, Cybersecurity, Managed Services, and IT Infrastructure. With over forty years of robust collaboration with banking institutions, TIM has proven expertise in addressing technological challenges and providing strategic solutions across operational technology, data security, digital transformation, cloud computing, and hybrid infrastructures.
Frequently Asked Questions
What is the purpose of the Finastra and TIM Corp partnership?
The partnership aims to enhance treasury services for financial institutions in the Philippines through innovative cloud-based solutions and managed services.
What benefits will the new treasury management solution provide?
The new solution is designed to reduce total cost of ownership, simplify infrastructure management, and enhance scalability and flexibility for banks.
Who are the key stakeholders in this collaboration?
The key stakeholders include Finastra, a global financial software provider, and TIM Corp, a leader in managed IT services in the region.
How will this partnership impact local banks?
The partnership will empower local banks by providing access to advanced treasury solutions, improving their operational efficiency and supporting digital transformation.
What is the vision of Finastra?
Finastra’s vision is to unlock the potential of people, businesses, and communities through technology and collaboration, aiming to accelerate the future of Open Finance.
