Fabrick’s offering will also be available on the Microsoft Commercial Marketplace, supporting European companies that want to bring innovative financial applications to market, taking full advantage of the flexibility and security of Microsoft’s cloud platform
Milan, March 25, 2021 – Fabrick, Italy’s first open banking ecosystem that operates internationally to promote Open Finance, announces the strengthening of its collaboration with Microsoft Italia with the aim of leveraging Cloud Computing and new technologies to continue to develop innovative projects capable of accelerating the digital transformation of the financial world. As part of the partnership, Fabrick’s unique offer will become part of the Microsoft Commercial Marketplace, Microsoft’s financial ecosystem that already includes more than 17,000 globally certified apps and services. This collaboration will enable Fabrick to strengthen its presence in the corporate market, both domestically and internationally, allowing for multiple companies across Europe to benefit from the new Open Banking and Open Payment solutions.
The agreement will see Fabrick collaborate with Microsoft Italia to further enhance its approach to financial sector innovation, based on the ability to openly integrate third-party services for the rapid development of digital, personalized and affordable products and services. These services will be centered on the needs of advanced end users and capitalize on the flexibility, scalability and security of the Microsoft Azure cloud platform, as well as the most advanced features of Artificial Intelligence and Integrated Data Analysis.
The Personal Finance Management solution is already available and enables end customers to view and manage their money whether it is in a different bank or bank accounts all from a single app, providing a complete and real-time view of their resources, in line with PSD2 regulations. With this in mind, further Open Finance services will be developed, in order to transfer the benefits and reliability of Azure Cloud to corporate partners. Azure Cloud boasts over 60 Datacenter Regions globally and offers absolute and robust cybersecurity and privacy guarantees with more than 90 compliance standards including GDPR.
Paolo Zaccardi, CEO of Fabrick: “Fabrick is a partner for all those companies that want to pursue innovation projects, while remaining competitive in strategic sectors for their business. In order to do this effectively, we identify market needs and develop a highly modular offer that guarantees the best customer experience. For us, the partnership with Microsoft represents an extraordinary opportunity to grow and strengthen our positioning in the market; we have found a valuable ally who, like us, has seen in technological evolution and Open Finance a new way to innovate the delivery of corporate services for the end user”.
Silvia Candiani, CEO of Microsoft Italy: “We are proud of this partnership with Fabrick, a company that is of strategic importance for innovation in the finance world. Fabrick perfectly embodies our thought that ‘every organization is a tech company’. This is indeed a very appropriate concept to describe an excellent company that has in its DNA the vocation for innovation as the key to transform the financial services market to enhance openness and sharing. With our Cloud platform we intend to further support the growth journey of this Italian company, helping it to export its innovative solutions abroad. By working as a team, we intend to contribute to the digital transformation of the sector with the aim of helping the many organizations operating in this area to offer increasing value to their customers, allowing them to lead their own financial strategies and to optimize the management of their own resources in safely and securely”.
Fabrick is the first structured company born in Italy, with an international vocation, with the precise aim of favoring Open Finance. Fabrick’s mission is to build, enable innovative projects and support the meeting and collaboration between new fintech actors, large corporates and traditional players in the financial world, involving them from an Open banking perspective in the design of the future of the sector, leveraging the new paradigms dictated by technological innovation and generating concrete advantages for all actors. Fabrick enables and promotes new growth models for banks, startups and companies, facilitating collaboration and dialogue and creating development opportunities, thanks to the skills, technologies and services it makes available through its technological platform and to the real ecosystem of relationships and cultural contamination that it has created and feeds around it. Fabrick has obtained authorization from the Bank of Italy to operate as a Payment Institute, thus adding a further piece to its role as enabler of new business models, it can in fact exercise the activities of Account Information Service Provider (AISP) and Payment Order Disposition Service Provider (PISP) to propose turnkey solutions and make its license available to customers in “as a service” mode.