Finastra’s new CTO, Mike Stawchansky, will report directly to Finastra CEO Simon Paris and will oversee the company’s customer technology and innovation projects, particularly in the field of generative AI (GenAI).
Finastra has named Mike Stawchansky as Chief Technology Innovation Officer, the London-based fintech company said.
The new CTO will report directly to Finastra CEO Simon Paris and will be responsible for driving the company’s customer technology and innovation projects, particularly in the field of generative AI (GenAI).
Mike Stawchansky previously worked as Senior Vice President of Platform and Production Engineering for Collibra, a data intelligence platform. His career spans over 25 years and includes major positions at Salesforce and WebMD, demonstrating his considerable knowledge of tech and innovation.
Finastra has been a leader in open-platform innovation since the launch of FusionFabric.cloud in 2017. The firm, which serves a wide range of financial institutions, is committed to improving direct and indirect banking connections with software solutions that span sectors such as lending, payments, treasury and capital markets, and universal banking. The company serves over 8,000 institutions globally, including 45 of the top 50 banks.
Mike Stawchansky, Chief Technology Officer of Finastra, stated, “I am thrilled to be a member of Finastra, and I am tremendously inspired by the enthusiasm and excitement that I see here for bringing creative and modern technology solutions to our customers. Furthermore, it is a privilege to lead such an advanced generative AI (Gen AI) team.
Finastra is ahead of the curve in terms of teaching its team how to use this technology, and I can’t wait to expand on that by bringing additional customer-facing solutions to the market that incorporate Gen AI benefits.”
Finastra CEO Simon Paris said: “Mike has a wealth of experience in establishing modern IT stacks and cloud transformations. His skills will be crucial as we continue to provide our customers with open technology solutions that promote business growth and efficiencies, eventually empowering financial institutions via our unwavering commitment to innovation.”
Finastra’s research emphasizes the importance of fintech partnerships in APAC banks’ strategy, with the majority intending to collaborate with an average of four fintechs in the near future. These collaborations aim to reduce operational expenses, make it easier to adopt new technology, and leverage technology expertise that is not currently accessible in-house. APAC institutions are investing heavily in digital transformation, but their investment levels are now lower than the global average.
As part of its APAC growth, Finastra engaged SYSTEX as a solution partner in Taiwan, offering Kondor and risk solutions.
Finastra’s Kondor platform is intended to help financial institutions manage huge volumes of treasury trading, and it enables complicated futures, options, and structured trades. It seamlessly interacts with existing systems, lowering costs and streamlining operations while maintaining compliance.
The Finastra Risk solution provides an automated and comprehensive risk management system. It gives banks tools to manage risk, evaluate margins, optimize balance sheets, and comply with regulations. With an easy interface and seamless integration, it improves performance, scalability, and decision-making accuracy.
Finastra has expanded further across Asia Pacific, where Banking-as-a-Service (BaaS) is allegedly gaining traction, with a large number of banks and financial institutions recognizing the need to improve their digital capabilities.
According to the business, APAC has a greater appetite for BaaS services than other regions, with a significant number of top executives already utilizing or planning to implement BaaS solutions. This trend is likely to increase investment in financial goods and service collaborations throughout Asia and the Pacific.
Also read: Women in the technology industry is constantly increasing, says Rajita Bhatnagar
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