Digital Banking

Corvallis partners with Finastra to deliver Italian banking digital transformation

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May 4, 2023

Finastra, a financial software provider, has partnered with Corvallis, an IT company, and Tinexta Group, a cybersecurity provider, to provide digital transformation services for Italian banks. Finastra will provide its Essence software-as-a-a-service solution on the Microsoft Azure cloud for banks, according to a press release.

Essence is integrated with the FusionFabric.cloud and is powered by open architecture to allow banks to deploy products and services. Finastra will also provide its Retail Analytics module for data insights. Corvallis will offer its anti-money laundering, payment settlement and fraud management tools for banks.

"The Italian financial services marketplace is unique, so we needed a partner with strong knowledge of local banking processes and regulations alongside deep expertise in implementation and delivery," Saraswathy Parthasarathy, COO, Universal Banking at Finastra, said in the release. "Collaborating with trusted and experienced partners is integral for Finastra's growth and success. With more than 30 years of experience in supporting Italian financial institutions, we believe that Corvallis has the skillset required to deliver our solution to a wider pool of Italian banks, through a smooth and seamless customer experience."