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Allied Banking Corporation Shifts to Cloud with Finastra Essence, Enhancing Efficiency

by Fintech News Hong Kong January 17, 2024

Finastra has announced the successful migration of Allied Banking Corporation (Hong Kong) to cloud-based operations, marking a significant upgrade from Finastra’s Equation core banking solution to the advanced Essence solution.

In addition, the Allied Banking Corporation has implemented Retail Analytics by Finastra to enhance its reporting capabilities. This transition aligns with the bank’s strategy for modernisation, aiming at cost reduction and operational efficiency enhancement.

Lourdes A, Salazar

“Finastra’s Equation core banking solution powered our business for 15 years, and whilst our needs were being met, we wanted to future-proof our operations and open the door for expansion into new products and services,”

said Lourdes A. Salazar, Chief Executive of Allied Banking Corporation.

Siobhan-Byron

The bank anticipates these advancements will support its continued growth and competitive edge in the banking sector.

“We are delighted to help Allied Banking Corporation with their ongoing commitment to delivering a truly innovative banking experience. Transitioning their core banking operations to the cloud is the next step in this strategy,”

said Siobhan Byron, EVP of Universal Banking, Finastra.

Featured image credit: Edited from Unsplash