Financial software applications and marketplaces provider Finastra has engaged with data and artificial intelligence (AI) company Databricks to offer more value-added solutions and services to its customers and partners around the world.
Through the partnership, Finastra will further explore access to its data and deliver additional value with AI, including generative AI capabilities.
The collaboration will also improve the quality, performance, and security of its product development at a reduced time-to-market.
Databricks financial services global vice president Junta Nakai said: “By unifying reporting, analytics and AI with the Databricks platform, Finastra is able to significantly streamline the development of its solutions, strengthen its product offerings and, ultimately, provide enhanced experiences for its customers.”
By leveraging Databricks, Finastra has introduced a data platform for its developers dubbed Secure Zone.
The platform is intended for production-grade data ingestion and engineering as well as the discovery of large batch and real-time data.
According to Finastra, teams will be able to experiment with and build prototype AI solutions and production models with full monitoring capabilities.
They can also employ language models for tasks including content generation, summarisation, semantic search, and translation of code.
Besides, Finastra’s customers will be able to access Secure Zone, helping them to create solid data products and data science models by utilising tools, datasets, and pre-trained models along with company’s technological expertise.
Finastra lead data engineer Alexander Borsuk said: “Our work with Databricks enables us to develop enhanced data-driven products more effectively across all our business units. Our customers can also quickly access our datasets via Databricks’ Delta Sharing capability to build their own products.
“The move highlights our continued commitment to innovation in product development through open platforms, cloud, machine learning (ML), advanced analytics and Gen AI.”
In November 2023, Finastra partnered with CQUR Bank to improve the latter’s digital transaction banking offering for international corporate clients.