“It is an honor to head up such an advanced generative AI (Gen AI) team. Finastra is ahead of the curve when it comes to educating its workforce on how to use this technology and I can’t wait to build on that, bringing more customer-facing solutions to market which encapsulate Gen AI benefits.”
Finastra has appointed Mike Stawchansky as Chief Technology Innovation Officer, the London-based fintech giant announced.
Focusing on leading the company’s customer technology and innovation initiatives, particularly in the area of generative AI (Gen AI), the new CTO will report directly to Finastra CEO Simon Paris.
Mike Stawchansky previously served as the Senior Vice President of Platform and Production Engineering at Collibra, a data intelligence platform. His career, which spans over 25 years, includes significant positions at Salesforce and WebMD, showcasing his extensive background in technology and innovation.
“I can’t wait to build on that”
Finastra continues to lead in open platform innovation through FusionFabric.cloud since its launch in 2017. Catering to a wide range of financial institutions, the firm is dedicated to enhancing direct and indirect banking relationships through its software solutions, covering areas such as Lending, Payments, Treasury & Capital Markets, and Universal Banking. The company caters to more than 8,000 institutions worldwide, including 45 of the top 50 banks.
Mike Stawchansky, Chief Technology Officer at Finastra, said, “I am so excited to be part of Finastra and I’m truly inspired by the passion and excitement that I see here around delivering innovative and modern technology solutions to our customers. In addition, it is an honor to head up such an advanced generative AI (Gen AI) team. Finastra is ahead of the curve when it comes to educating its workforce on how to use this technology and I can’t wait to build on that, bringing more customer-facing solutions to market which encapsulate Gen AI benefits.”
Simon Paris, CEO of Finastra, said: “Mike brings a wealth of expertise in building modern tech stacks and cloud transformations. His knowledge will be invaluable as we continue to bring our customers open technology solutions which drive business growth and efficiencies, and ultimately empower financial institutions with our relentless commitment to innovation.”
Finastra expanding across APAC
Finastra has been further expanding across Asia Pacific as Banking-as-a-Service (BaaS) is reportedly gaining momentum in the region, with a significant number of banks and financial institutions recognizing the need to enhance their digital capabilities.
The company said the appetite for BaaS services in APAC exceeds that of other regions, with a high percentage of senior executives already implementing or planning to implement BaaS solutions. This trend is expected to drive substantial investment in financial products and service partnerships across Asia Pacific.
Finastra’s research highlights the pivotal role of fintech partnerships in APAC banks’ strategies, with a majority planning to connect with an average of four fintechs in the near future. These partnerships are aimed at reducing operational costs, deploying new technology with greater ease, and leveraging technology expertise not available in-house. APAC institutions are investing significantly in digital transformation, although their investment levels are currently below the global average.
As part of its APAC expansion, Finastra appointed SYSTEX as a solution partner in Taiwan to offer the Kondor and Risk solutions.
Finastra’s Kondor platform is designed for financial institutions to manage large volumes of treasury trades and supports complex derivatives, options, and structured trades. It integrates smoothly with existing systems, reducing costs and simplifying processes while ensuring compliance.
The Finastra Risk solution offers an automated, comprehensive risk management system. It provides banks with tools for risk management, margin monitoring, balance sheet optimization, and regulatory compliance. Featuring an intuitive dashboard and seamless integration, it enhances performance, scalability, and decision-making accuracy.
