Following this announcement, CQUR Bank is set to leverage Finastra’s Trade Innovation and Corporate Channels services in order to streamline trade finance solutions, as well as to provide optimised digital banking tools to strengthen customer relationships. In addition, the financial institution will offer its corporate users a new online banking portal, digital workflows, and host-to-host integration products.
By integrating the digital banking platform Corporate Channels into its solutions, CQUR Bank will be provided with a single and secure portal to unify trade, cash, and supply-chain finance, while also offering lending and treasury solutions for its users. In addition, another tool included in the suite of services is Trade Innovation, an end-to-end product for frictionless trade and supply chain finance, which uses straight-through processing, digitisation, and data analytics in order to accelerate the development process of the bank and its ability to evolve with new demands.
Global provider of financial software applications and marketplaces, Finastra had multiple partnerships and product launches in the last couple of months, covering several different geographic regions around the world.
In October 2023, Finastra announced its collaboration with ELCY, an ecommerce solutions provider for the processing of international trade finance, aiming to offer a trade finance service for corporate partners and clients.
The Corporate Trade Finance Portal was developed in order to offer corporates the possibility to communicate in a secure and authenticated manner, with all of their banks through a centralised and efficient platform. As a result, firms and enterprises were enabled to benefit from optimised visibility and real-time control of all trade finance exposures across the organisations. According to the press release published at the time, shifting from the process of connecting to different bank systems and eliminating paper processes focused on providing sustainable cost reductions and improved operational efficiency.
Earlier in September 2023, the Philippine-based digital bank Tonik announced its collaboration with Finastra in order to optimise its end-to-end core banking offerings with the use of Finastra Essence.
Throughout this partnership, Finastra was set to strengthen the deal with a deployment of dedicated experts and consultants, prioritising the process of optimising the development procedure of Tonik. At the same time, the companies aimed to launch a new, secure, and effective suite of solutions.
Finastra Essence was leveraged in order to provide the firm with the needed flexibility and security to develop the technology stack that met the needs, preferences, and demands of customers and the overall industry.
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