Bank of East Asia to boost trade finance through Finastras platform

Tuesday 27 November 2018 11:08 CET | News

Hong Kong-based Bank of East Asia has extended its partnership with Finastra to enhance its digital trade capabilities for corporate and personal banking.

The move includes SME customers in Hong Kong, China and overseas. Integrating Finastra’s technology and support services, Bank of East Asia has upgraded to the latest version of Fusion Trade Innovation to drive efficient inter-bank settlements and stay SWIFT compliant.

Fusion Trade Innovation is a SWIFT-compliant digital trade finance platform, which enables banks to streamline and automate onboarding, data exchange and input for its customers leveraging the SWIFT inter-bank network. Its functionalities also support banks to significantly optimize efficiencies, enhance service propositions, and reduce operational risk. Bank of East Asia can now take advantage of enhanced data access to improve products, services and pricing with insight into client risk, exposures and their end-to-end supply chain.

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Keywords: Bank of East Asia, Finastra, partnership, service implementation, Hong Kong, China, supply chain finance, trade finance, trade finance platform
Countries: World