Learn how FinTech ISV Finova delivers highly available, secure solutions via the Microsoft Azure public cloud while satisfying banking regulations.
cloud adoption in a regulated industry
Companies in regulated industries are beginning to host their most critical applications in the public cloud, attracted by the flexibility and access to new features.
However, they require a cloud-first strategy which prioritises security and is supported by trusted vendors who can minimise risk and disruption.
As a Fintech ISV, Finova has been helping clients achieve the next phase of their digital transformation by enabling their migration to the latest generation of its software solutions, running in the Microsoft Azure public cloud.
One of the first Finova clients to target a move to the cloud was The Cambridge Building Society (The Cambridge), which was seeking to accelerate innovation and enhance operational resilience.
Customer accounts migrated to secure systems in Microsoft Azure by The Cambridge
New product deployments in Microsoft Azure through Tectrade’s automation software
Comprehensive, round-the-clock support for Microsoft Azure environments with Tectrade
Finova looked for a delivery partner with the skills and experience to help build the next generation of its fully managed service offering in the Microsoft Azure cloud.
To enable repeatable, successful cloud migrations for Finova’s client base, the company required expertise in managing and supporting complex and regulated workloads.
Neil Locke, Head of Cloud Implementations at DPR, commented:
“Right now, organizations in a wide variety of industries are moving towards cloud hosting, due to its ability to improve the efficiency, security and flexibility with which they do business. DPR is committed to becoming the chosen partner of mortgage and savings businesses wishing to embrace cloud-based technology. Our aim when helping businesses through their digital transformation is to provide a secure and seamless journey. With help from Tectrade, we can now also assist with clients’ migration to secure core banking software in Microsoft Azure.”
Finova engaged Tectrade to build the cloud framework which enables it to migrate clients, including The Cambridge, to its core banking software running in Microsoft Azure. Tectrade was a natural choice for Finova: in a partnership of seven years, the companies have completed multiple successful projects and developed mature processes in close collaboration.
Tectrade provides implementation and managed services to ensure Finova’s clients can use the new public cloud platform to its full potential. Together, Tectrade and Finova can meet increasingly demanding governance requirements from financial service regulators.
Finova’s clients can choose from a range of templated, automated services to achieve the level of resilience that their regulators require. From active-active deployments to entry-level environments, Tectrade’s proprietary automation software ensures low-risk, rapid migrations.
With help from Tectrade, we can now assist with clients’ migration to secure core banking software in Microsoft Azure.Neil Locke, Head of Cloud Implementations – Finova
With help from Tectrade, Finova has diversified its service offerings to accommodate a growing demand for cloud-hosted services.
Finova can now deliver cloud-native features to clients, helping them to find competitive advantage in a rapidly changing marketplace.
For example, with The Cambridge, Finova was able to reduce overnight batch processing times while improving disaster recovery and business continuity capabilities.
Trevor Tannenbaum, Head of IT & Change at The Cambridge Building Society, commented:
“The plan was executed perfectly, and all key milestones delivered on time. Now that we are live on Azure, we are starting to see the benefits. The flexibility that the cloud offers will enable us to manage growth and accelerate our overnight processes to allow customers full access to their accounts throughout the day.”
About our client
For more than two decades, Finova has led the way in retail finance technology and services.
The software provider offers a modular portfolio of integrated solutions for financial products in the retail and commercial lending space.