Finastra has been named a global power seller in banking platform deals for the second year running. The research, “Don’t Select Banking Software Without Understanding The State Of The Banking Platform Market, by Forrester’s, Jost Hoppermann,” celebrates 104 new name deals for Finastra for last year, and 273 extended business deals. Separately, the firm has topped the IBS Intelligence Sales League Table as the overall global leader two years in a row. The dual recognition demonstrates Finastra’s growing leadership position across the breadth of the financial services space.
The Forrester research evaluates deals signed in 2018 for banking platform solutions. New named deals indicate how well a vendor can expand its market footprint by attracting new customers.
Report author, Jost Hoppermann, Vice President, Principal Analyst at Forrester wrote, “In the past, the functionality banks purchased indicated that they saw digital banking as limited to digital channels. While many banks are still at risk of becoming a victim of the ‘Potemkin effect’, 2018’s functional buying patterns show increasing interest in end-to-end digital banking. Established banking platform vendors tend to be more transparent than core banking Fintechs when it comes to market success and solution capabilities.”
Separately, Finastra has also been named overall global leading vendor by IBS Intelligence. Leading the Sales League Table for 2019, the company also scooped the top spot in several sub-categories:
- Overall US leader (across all products)
- #1 for US lending
- #1 for US digital banking and channels
- #1 for US payments and card management
Simon Paris, CEO at Finastra said, “These two awards are a wonderful recognition for our Product and Field teams, with these significant industry accolades celebrating the breadth and depth of our solutions. Even more of note, in the last 12 months, Finastra has taken three financial institutions live every single day – making us incredibly proud to be recognized by both analysts and to see the pace and scale in the adoption of Finastra software. We look forward to accelerating on our path, especially as we make all our core systems across banking, lending, payments, trade finance, treasury, capital markets and more, available via open APIs and the FusionFabric.cloud platform for open innovation.”