Finastra, Hundsun Lirong partner to help China-based banks

Thursday 8 July 2021 11:53 CET | News

Finastra and Hundsun Lirong, a subsidiary of Hundsun Technologies, have partnered to co-develop a Chinese version of Finastra’s Fusion Opics treasury solution, Hundsun Mangos. 

Built on Hundsun Technologies’ cloud-based platform, the new solution will be tailored to the specific requirements of the China-based market whilst also meeting international standards, enabling banks to develop and deliver high quality treasury operations and capitalise on opportunities.

As of the end of 2020, China's interbank market served more than 30,000 institutional investors from over 50 countries and regions around the world, with an average daily trading volume of more than RMB 6 trillion. As interbank market transaction volumes continue to expand, and as institutions deepen and broaden their participation in this space, banks are raising the standards required of their treasury systems. However, given the highly specialised nature of the industry, the complexity of domestic and international business use cases, and the fact that markets outside of China have been developing treasury software for longer, there remains a sizeable gap between domestic and foreign treasury solutions.

Finastra’s Fusion Opics covers all aspects of a bank’s treasury operations on a single platform, from deal inception through to settlement and accounting, making treasury operations more cost-effective and increasing overall profitability. Hundsun Mangos will include compatibility with China-based domestic treasury products, as well as being cloud-ready in anticipation of more banking systems moving to the cloud in the future.

As part of the new partnership, Hundsun Lirong will take on the management of Finastra’s existing Fusion Opics customers in mainland China, Hong Kong, and Macau, as well as their overseas branches. The Hundsun Lirong team, which has gained many years of experience in implementing and maintaining Finastra’s Fusion Opics and Fusion Summit solutions, will work in close partnership with Finastra’s China team. Hundsun Lirong will continue to act as Finastra's partner for Fusion Summit in mainland China, Hong Kong and Macau going forward, providing differentiated treasury solutions for banking clients of all sizes, across large state-owned banks, joint-stock banks, city commercial banks and rural commercial banks.

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Keywords: partnership, Finastra, treasury, Open Banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: China
This article is part of category

Banking & Fintech