Fabrick, Italy's global open-banking ecosystem, is partnering with Microsoft Italia to leverage cloud computing and accelerate digital transformation of the financial world, according to a company press release.

As part of the agreement, Fabrick's offer will become part of the Microsoft Commercial Marketplace, Microsoft's financial ecosystem, which includes 17,000 globally certified apps and services. The collaboration will allow Fabrick to strengthen its presence in the corporate market, both domestically and internationally, and allow multiple companies across Europe to benefit from the new Open Banking and Open Payment solutions, said 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," she said in the release. "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."

Fabrick will also collaborate with Microsoft Italia on financial innovation and openly integrate third-party services for the development of digital, personalized and affordable products and services centered on the needs of advanced end users. This will capitalize on the flexibility, scalability and security of the Microsoft Azure cloud platform, as well as the advanced features of Artificial Intelligence and Integrated Data Analysis, Paolo Zaccardi, CEO, Fabrick said in the release.

"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," he said.

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