London-based FinTech firm Finastra has announced that it has joined the World Economic Forum.

The move will see the company collaborating with industry leaders and policy-makers to drive change across financial services and world trade.

The firm was formed in 2017 by the combination of insurance software firm Misys and FinTech services firm D+H.

It provides financial services software to retail banking, transaction banking, lending, and treasury and capital markets.

Tom Kilroy, COO at Finastra said the firm was in a privileged position to effect change at a global level.

“We're incredibly passionate about the World Economic Forum's values and they align closely with our own mission and desire to unlock the potential of people, businesses and communities with open finance technology” he said.

“We're excited to be part of such an important movement."  

Finastra will work with other Forum members in an effort to break down industry silos and foster financial inclusion.

It said it was particularly interested in forum initiatives such as Shaping the Future of Digital Economy and New Value Creation, the Future of Financial and Monetary Systems, and the Future of Trade and Global Economic Interdependence.

"We bring together the foremost policy-makers, academics, innovators, civil society representatives and business leaders to help shape and deliver on our mission — to improve the state of the world," said Stephan Mergenthaler, head of strategic intelligence; member of the executive committee at the World Economic Forum. "We are delighted to have Finastra on board as a member."

The announcement comes just after the World Trade Symposium in New York, an event initiated by Finastra which brings together trade luminaries and leaders with a view to helping shape the future of global trade, inclusion and prosperity.