Financial software provider Finastra has partnered with working capital finance platform CredAble to expand the functionality of Finastra Trade Innovation. Finastra Trade Innovation, integrated with CredAble's working capital finance platform, provides new and existing customers with a comprehensive supply chain finance offering.

As a result, banks can accelerate their revenue growth, expand their business, and increase customer satisfaction by offering corporates a wider range of financial services in a single platform. Increasing revenue growth and customer satisfaction Trade Innovation is a trade services platform that uses straight-through processing, digitalisation and data analytics to enable intelligent trade for growth, and to evolve with compliance, customer, and competitive demands. CredAble is a working capital platform that enables banks to provide extensive supply chain financing solutions, serve diverse enterprise and small and medium-sized (SME) businesses, and unlock lucrative revenue opportunities.

The partnership combines best-of-breed functionality to provide an enhanced, end-to-end offering for trade and supply chain finance. Officials from CredAble said that in this tough economic climate, it is more important than ever that corporates optimise their working capital and maintain real-time liquidity for long-term growth. By combining their AI-powered supply chain finance platform with Finastra's trade finance solution and global reach, they are delivering a holistic, front-to-back trade and supply chain finance offering to more banks worldwide.

This enables them to broaden and enhance their operations to facilitate business growth, while ensuring the services they offer continue to meet the demands of corporates. Also commenting on this partnership, representatives from Finastra said that to facilitate truly innovative, relevant, and open trade finance services, their partner ecosystem plays an important role. By augmenting the functionality of Trade Innovation with CredAble's feature-rich supply chain finance offering, they are giving their current and future customers access to a wider array of services that allow them to meet the growing needs of their customers.

Finastra’s team added that the partnership ensures institutions can continue to innovate at speed, decrease time to value, and utilise data for decision making across the whole of their working capital and supply chain finance portfolio, ultimately supporting increased growth for both their business and that of their customers. .