Financial software company Finastra is set to open a Centre of Excellence (COE) at Malaysia’s MRANTI Technology Park in Bukit Jalil, Kuala Lumpur.
MRANTI Park is a technology hub encouraging innovation, commercial adoption, and scientific excellence. The park has been chosen by Finastra as an “ideal” location to expand its Asia Pacific footprint. The decision comes as part of Finastra’s plans to further contribute to Kuala Lumpur’s economy.
The financial software company also aims to promote science, technology, engineering, the arts, and mathematics (STEAM) careers in the region.
Finastra aims to use integrated infrastructure and services offered by MRANTI Technology Park. The company is to try and recruit local IT talent from nearby universities and the start-up technology community there.
Finastra plans to use its FusionFabric.cloud open development platform to support innovation for financial institutions worldwide. The new COE is a low-carbon development; thanks to its use of renewable energy and aims to recycle all waste. The space will also conserve water through rain harvesting. The sustainable plans were developed in line with Finastra’s ESG philosophy.
New COE “is an important milestone” for Finastra
Simon Paris, CEO of Finastra, offered his thoughts on the move. Paris explained: “Growth in Asia Pacific is one of our company’s key strategic commitments and opening a COE in Kuala Lumpur is an important milestone to help us achieve this goal.
“This site is a hub for technology innovation and MRANTI’s desire to act as a connector, incubator, and catalyst to transform ideas from early-stage ideation to impact complements our collaborative mantra. We plan to drive innovation and technology acceleration around digital trade, digital finance and acceleration to the cloud. This is in line with government initiatives around digitalisation there. It is also a testament to our highly valued Malaysian banking and financial services customers.”
Dzuleira Abu Bakar, CEO of MRANTI, also spoke on what Finastra could offer the park. She said: “Through our MRANTI Park ‘Master Plan’, we seek to inspire the world with a bold new model.
“Our model accelerates ideas to impact by combining our developmental expertise with tech infrastructure and services for the creation, development and commercialization of technology and innovation.
“We are excited that a leading fintech company like Finastra is joining our growing community and look forward to supporting local tech innovation to transform our nation’s technology landscape.”
Investing in Finastra and Malaysia
Robert F. Smith, founder, chairman and CEO of global investment firm Vista Equity Partners, spoke on the firm’s investment in Finastra. He said: “I’m honoured by the long-standing commitment of our Malaysian investing partners and enterprise software customers. I am also proud of the positive impact they’re enabling in the country.
“We’re delighted to grow our engagement with direct investment through this Finastra COE in partnership with MRANTI.
“We are excited about further developing local IT talent and increasing opportunities for even more Malaysians.”