Finastra has introduced the Loan IQ platform for the Japan International Cooperation Agency to update JICA's core system for financing private-sector investments.
The implementation of Loan IQ by JICA marks a first for Japan. In collaboration with IBM Japan, this solution meets JICA’s growing need for lending capabilities that are scalable, adaptable, and compliant with international standards.
With Loan IQ as its foundation, the system facilitates comprehensive management of international private sector loan transactions. It accommodates loans in Japanese yen, USD, EUR, and various local currencies. This transition aims to improve operational efficiency, accuracy, and preparedness for the future growth of Private-Sector Investment Finance.
JICA serves as Japan's main agency for Official Development Assistance, offering long-term, concessional financing for infrastructure and social development initiatives in developing nations. With the rising necessity for private funds to tackle various economic and social challenges in these countries, the demand for its Private-Sector Investment Finance scheme is anticipated to increase. Consequently, it is important to introduce an adaptable platform that aligns with global standards.
Finastra’s Loan IQ solution provides comprehensive lifecycle management, covering transaction setup and approval to disbursement, interest and fee calculations, and final repayment. This solution is utilised by commercial and development financial institutions around the globe.
Key benefits of the new system
The new system offers several significant advantages, including:
- Streamlined operations: a consolidated platform for managing the loan lifecycle simplifies processes and minimises manual tasks;
- Flexible product design: it accommodates various loan structures and adapts to evolving market demands;
- Global standard compliance: it establishes a dependable and scalable core that aligns with international standards.
This launch signifies a successful implementation of Finastra technology in the Asia-Pacific region, reinforcing its reputation as a reliable partner for development finance institutions around the globe.
