Zafin and Microsoft: Pioneering Financial Core Modernization, Employee Enablement, and Customer Success
By Chris Dickin, Executive Vice President, Global Strategy Management, Matt Hefford, Vice President, SaaS Operations, and Shahir A. Daya, Chief Technology Officer
In the rapidly evolving landscape of digital transformation, Zafin and Microsoft have emerged as pioneers, harmonizing the principles of core modernization, employee enablement, and customer success to reshape the future of finance.
Zafin, a global fintech luminary, made significant strides in 2023 by clinching the Microsoft Financial Services Global Partner of the Year award. This achievement is a testament to the innovative collaboration between Microsoft and Zafin, aimed at fulfilling the unique requirements of a mutual customer. By leveraging Zafin’s Enterprise Product and Pricing platform running exclusively on Microsoft’s Azure as a Software as a Service (SaaS), the duo has provided an intelligent alternative to the traditional ‘rip and replace’ approach, thus simplifying core banking and preparing it for potential future replacement. This strategic integration streamlines operations, optimizes costs, and allows for swift adaptation to evolving market dynamics.
Playing an instrumental role in this transformative journey, Microsoft continues to blaze the trail in the innovation game among the GAMA (Google, Amazon, Microsoft, Apple). Its robust suite of tools enables businesses to tap into unprecedented levels of growth and productivity.
At Zafin, we build Cloud Native software using modern architectural styles such as Microservices and Event-Driven Architecture. We employ modern Software Engineering practices and new ways of working. We take full advantage of what the Microsoft Azure Cloud has to offer.
Our engineers take pride in pushing the envelope from Code to Cloud with Scalability, Resiliency, Security, and Compliance for the Next Generation of Software.
Zafin capitalizes on Azure’s essential services, as shown in the table below. Note that this is not an exhaustive list of all the Azure Cloud Services we use.
Working in harmony with Zafin’s financial suite, these tools enhance productivity and foster operational agility.
Their collaborative efforts make Zafin and Microsoft’s emphasis on employee enablement and customer success clear. By integrating Microsoft’s advanced software systems — Teams and Dynamics 365 — with Zafin’s cutting-edge product and pricing platform, a collaborative and empowering environment is nurtured where Microsoft provides a breadth of tools and Zafin’s depth of industry platform expertise. This holistic digital ecosystem allows bank employees to excel in their roles, boosting organizational efficiency and profitability. Enhanced by Azure’s real-time analytics, this data-driven approach enables businesses to anticipate customer needs and respond promptly, delivering a superior customer experience.
The alliance extends into the Azure marketplace, simplifying the procurement process for banks to acquire Zafin through their Microsoft Azure Consumption Commitment (MACC) agreements. This strategic integration assures seamless operation within the Azure ecosystem.
The alliance is further exploring the potential of Azure AI/Cognitive Services, promising to unlock new avenues of innovation. While specific details remain under wraps, the promise of more is exciting, with future blogs set to shed light on these advancements.
In conclusion, the Zafin-Microsoft partnership embodies a transformative shift in the financial sector’s digital landscape. They demonstrate the transformative power of integrating technology with finance by reinventing core modernization and fully leveraging the Azure marketplace. As the 2023 winners of Microsoft’s prestigious awards, they stand poised on the cusp of a new era of digitized, personalized, and efficient banking, ushering in a promising future for financial institutions and their customers.
References
- Zafin recognized as the winner of 2023 Microsoft Financial Services Global Partner of the year award! (2023) Zafin. Available at: https://zafin.com/insights/zafin-news/press-release/zafin-recognized-as-the-winner-of-2023-microsoft-financial-services-partner-of-the-year-award/ (Accessed: 15 July 2023).
- Congratulations to the 2023 Microsoft partner of the year awards winners and finalists (2023) Microsoft Cloud Partner Program. Available at: https://blogs.partner.microsoft.com/partner/congratulations-to-the-2023-microsoft-partner-of-the-year-awards-winners-and-finalists/ (Accessed: 15 July 2023).
- About the Microsoft and Zafin Partnership (2023) Zafin. Available at: https://zafin.com/partners/microsoft/(Accessed: 15 July 2023).
- Zafin’s Enterprise Product and Pricing Platform (2023) Zafin. Available at: https://zafin.com/platform/ (Accessed: 16 July 2023).
- Zafin + microsoft (no date) Microsoft Azure Marketplace. Available at: https://azuremarketplace.microsoft.com/en-us/marketplace/apps/zafin-5130073.zafincloud (Accessed: 16 July 2023).