Finastra, a Vista Equity Partners portfolio company, has opened its Future of Banking Center of Excellence at Cyberport in Hong Kong.

The London-based fintech company said that the new centre will showcase digital banking technologies and will offer an innovation sandbox for the changing financial services landscape.

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The latest step is part of Finastra’s strategy to boost its innovation ecosystem and cooperate with strategic partners worldwide.

Finastra managing director of Asia Pacific region Imad Abou Haidar said: “This significant investment further demonstrates our commitment to supporting our customers in the Asia Pacific region.

“Our connected corporate banking platform and digital capabilities are second to none, and we are well placed to help banks build an evolutionary approach to change in line with customer demand. We’ll be focusing on these areas to help banks make the leap towards a digital future.

“This is the first exclusive banking Center of Excellence of its kind at Cyberport which will provide an immersive lab environment dedicated to driving digitalization across the financial services industry.”

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Finastra said that the new centre will support banks to overcome current corporate and retail banking business challenges besides offering an environment for innovation.

Finastra has also selected management consulting firm McKinsey & Company as the official knowledge partner to The Future of Banking Center of Excellence. McKinsey will deliver its latest research and insights on business trends impacting the banking industry.

The banking centre in Hong Kong is scheduled to open in the first quarter of 2018.