Finastra, Hexaware to accelerate digital payments in Europe

The move helps Hexaware customers in Germany, Belgium, the UK, and Ireland take ownership of their payment infrastructure. The partnership brings together the companies’ payments and integration experience, to provide mid-sized banks with an end-to-end Payments-as-a-Service (PaaS) offering which helps them remain competitive while mitigating operational costs.

Domestic and cross-border digital payments can be expensive and complicated in terms of managing risks, keeping up with innovation and high transaction costs. To address these challenges, Hexaware will become a Managed Service Provider (MSP) for Finastra’s payments solutions, managing the payment licences and supporting implementation, hosting, and maintenance services for its customers. The two companies are prepared to provide a PaaS offering which will help banks to de-risk payments transformation and control transaction costs associated with product ownership and dependency on payment processors. It will also help banks adapt quickly to innovation and regulatory changes with a trusted advisor.