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Finastra a top global player for banking platform deals

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Finastra a top global player for banking platform deals

Count of 2017 sales highest of any provider in independent research survey

Finastra landed more global banking deals than any other provider in 2017, as outlined in a recent report by Forrester: True Digital Banking Drives Interest In Core Banking (Global Banking Platform Deals Survey 2017). The benchmark survey recognizes 363 combined sales for Finastra, more than double the next highest.

Nadeem Syed, CEO at Finastra, said, “This benchmark is an extremely positive reflection on our innovative banking solutions. It demonstrates our commitment to providing our customers with technology that enables them to meet today’s challenges right across the breadth of the financial services industry. The Finastra deal figures total more than the providers with the second and third highest number of deals added together which is testament to the richness of our offering and the value it creates for customers, and we believe it cements our position as leaders in the market.”

The report shows the highest key area of growth coming from lending  and regulatory compliance functional elements. Of the 363 combined sales recorded for Finastra, 100 of these are new customers – the highest recorded figure in the survey of new name deals for last year.

Report author JostHoppermann, Vice President, Principal Analyst at Forrester wrote, “State-of-the-art banking platforms – or their elements like core banking and digital channels – can create fresh opportunities for banks and their application development and delivery (AD&D) teams to deliver great customer experience (CX) and generate new business value more efficiently. The 2017 survey recorded 2% year on year growth across the industry for new name clients, and extended business deals up 19%, compared to 8% and 5% respectively for 2016*.”

Finastra is also positioned at the top of the ‘2017 global banking platform vendor pyramid’ for combined deals. This ranking recognizes top global players with over 150 combined deals (new names and extended deals with existing customers) in more than five regions.

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