The Co-operative Bank will initially upgrade its treasury infrastructure and the automation of manual reporting and processes as part of the solution which will live on Microsoft Azure’s system.
The Co-operative Bank is moving some of its core infrastructure to the cloud, following a deal with Finastra.
This process of digitalisation is a gradual one and can be complex as most older banks have fragmented existing infrastructure and need operate continuously.
“Moving from an on-premises model to a cloud-based managed service is a big part of our operational strategy for treasury activity,” said Gary McDermott, Treasurer at The Co-operative Bank.
“With Finastra’s solution and the speed and flexibility offered by the cloud, we can continue to meet business requirements whilst ensuring regulatory compliance,” he added.