Fairstone Financial Inc. Wins OCTAS Award for Cloud Migration and Transformation

MONTREAL, June 6, 2019 /CNW Telbec/ - Fairstone Financial Inc. ("Fairstone"), a privately-held consumer finance company, was recognized with an OCTAS Award yesterday during the annual Montreal gala, in the large business category for its rapid migration to a 100% cloud computing infrastructure.

This large-scale migration of all business systems, infrastructure and data to the cloud was completed in partnership with Amazon Web Services, within an 18-month timeframe.

"This was a highly complex project with a hard deadline that was non-negotiable. Anything not migrated in time would be lost, meaning all teams involved worked under a considerable amount of pressure with constant troubleshooting and problem-solving," said Sylvain Prévost, Chief Information Officer of Fairstone. "We are proud to receive this award in recognition of the collaboration, nimbleness and creativity that was required to successfully migrate an almost century-old business to a 100% cloud-based environment."

As one of the few large businesses having made the full shift to cloud computing, Fairstone is able to rapidly scale or increase server power while remaining efficient with resources. The company can easily integrate new programs and applications and its workforce no longer faces location or device-based limitations.

Organized by the Réseau Action TI, this competition rewards each year projects that leverage information technology (IT) and digital technology in creative and innovative ways and is the highest distinction for IT projects in Quebec.

About Fairstone Financial Inc.
Fairstone is Canada's largest non-bank provider of responsible lending solutions for near-prime borrowers with, as at March 31, 2019, over $3.0 billion in assets on a consolidated basis. Fairstone, including through its predecessors, has close to a 100-year history of providing Canadians with access to responsible credit. The Company has two key business lines: lending directly to consumers through its branch network and online; and financing consumer retail and car purchases through retailers and dealerships. Headquartered in Montreal, Fairstone is privately-held by an investor group led by funds managed by affiliates of J.C. Flowers & Co. LLC and Värde Partners. More at Fairstone.ca.

SOURCE Fairstone Financial Inc.

Joelle Langevin, Senior Manager, Public Relations & Special Projects, 514 394-2400 x6300058, [email protected]