IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Microsoft to partner with Finastra for SMB loans

Programme to "initially" start in the US with 8,000 financial institutions available through Dynamics 365

The Finastra headquarters

US fintech firm Finastra has announced a collaboration with Microsoft to help small and medium-sized businesses (SMBs) access loans. 

The SMBs will be able to unlock these new financing options through their Dynamics 365 accounts, which will also be used by the lender for review.

Related Resource

Microsoft 365 protection made MSPEasy

The cloud protection solution built for MSPs

Whitepaper cover with layered graphic of tablet, envelope and padlockFree Download

Microsoft suggests that SMBs operate in "a sector severely underserved when it comes to accessing finance" and its partnership with Finestra aims to improve access in a "seamless and frictionless" manner. Dynamics 365 is a key part of the plans, as SMBs will be able to use information already stored in their accounts to apply for loans. This includes accounts receivable and payable records, which could speed up the time between lending decisions and payment, according to Microsoft. 

"We are proud to further expand our relationship with Finastra to drive new value for small and medium enterprises, the backbone of job creation in the world's economy," said Bill Borden, corporate vice president of worldwide financial services at Microsoft. "By embedding secure access to key financial services in the context of Microsoft Dynamics 365, our SMB customers will have a faster path to the financing options and critical capital they need to thrive."

Finastra is an American-based fintech firm that has more than 8,000 financial institutions in its network and it operates in 130 countries around the world. The collaboration with Microsoft will launch in the summer, "initially" in North America, and will be integrated with open APIs through the company's FusionFabric.cloud platform. 

The new lending proposition on Microsoft Dynamics 365 "reinforces" Finastra's leadership in open and embedded finance, according to the company's chief revenue officer for banking as a service, Angus Ross. What's more, Ross believes It demonstrates the benefits that embedded and contextual finance can bring to the industry and the communities within it. 

Featured Resources

Accelerating AI modernisation with data infrastructure

Generate business value from your AI initiatives

Free Download

Recommendations for managing AI risks

Integrate your external AI tool findings into your broader security programs

Free Download

Modernise your legacy databases in the cloud

An introduction to cloud databases

Free Download

Powering through to innovation

IT agility drive digital transformation

Free Download

Most Popular

LockBit 2.0 ransomware disguised as PDFs distributed in email attacks
Security

LockBit 2.0 ransomware disguised as PDFs distributed in email attacks

27 Jun 2022
Open source giant Red Hat joins HPE GreenLake ecosystem
automation

Open source giant Red Hat joins HPE GreenLake ecosystem

28 Jun 2022
Carnival hit with $5 million fine over cyber security violations
cyber security

Carnival hit with $5 million fine over cyber security violations

27 Jun 2022