WorkFusion is focusing on cloud-based strategy

The automation company WorkFusion, which offers a packaged solution to financial institutions and counts the $1.7 trillion Deutsche Bank and the $4.1 billion Carter Bank & Trust among its customers, will focus on shifting its own premise solution to the cloud. In this week’s episode of The Buzz, WorkFusion’s new CEO, Adam Famularo, discusses how the company is building out a software-as-a-service delivery model and offering financial services a cloud-based option, in addition to the managed services offering for banks to run behind their firewall. “We're investing a lot in cloud, that's going to be kind of, of course, our next evolution for our customers,” Famularo told Bank Automation News. “We already today can deliver and manage services, we already today can help them install in their own local cloud.” The New York-based WorkFusion was founded in 2011 and has raised   $341.3 million in funding over seven rounds. Their latest funding was raised on March9 from a Series F round totaling $220 million. Famularo came to the company from erwin, which specializes in data modeling and data governance. In this podcast, Famularo said how data flows is key to understanding the flow of work processes, which in turn is essential for automation. “Understanding your data is understanding the business processes that supported the data,” Famularo said.