Mindtree, a technology services and digital transformation firm, has partnered with financial technology provider Finastra to deliver managed services payment solutions in the Nordics, the UK and Ireland.

Under the tie-up, Mindtree will offer Finastra’s Fusion Payments To Go payments technology as a managed service to banks in these regions.

Finastra’s solution is developed to offer scalable payments processing and clearing functionality and automated onboarding for financial institutions, through open APIs.

The solution also provides access for smaller banks and financial institutions to an enhanced payments hub with modernised capabilities.

As a partner, Mindtree will be in charge of hosting Finastra’s payments solution in the cloud and overseeing the integration of the technology across the rest of the banks’ existing solutions.

Finastra senior vice-president and global head of Partner and Ecosystems Denise Parker said: “We welcome Mindtree to our partner ecosystem. Together we will enable agile banks in the Nordics, the UK and Ireland to tap into our Fusion Payments To Go solution, hosted by Mindtree in the cloud.

“The partnership is about helping banks to better serve their customers by keeping ahead of market changes, delivering faster innovation and opening business growth opportunities.”

Mindtree chief business officer for Banking, Financial Services and Insurance Mukund Rao said that the partnership aligns well with the P27 initiative in the Nordics, which encourages interoperability, real-time payment capabilities and paperless systems.

Rao added: “Finastra offers best-of-breed payments solutions and, alongside our deep expertise and cloud capabilities, we are excited to join hands with them to support banks in transforming payments and making them real-time, convenient and secure.”

Last year, Cross-border payments firm Thunes and Finastra teamed up to enable the latter’s customers to send money by accessing new payment rails.