Finastra has partnered with ELCY , an ecommerce solutions provider for the processing of international trade finance, to provide a trade finance solution for corporates. The Corporate Trade Finance Portal from Finastra and ELCY will enable corporates to communicate in a secure and authenticated manner with all their banks through a centralised platform.

As a result, corporates will be able to benefit from greater visibility and real-time control of all trade finance exposures across their organisations. The press release further notes that shifting from the hassle of connecting to different bank systems and getting rid of paper processes could result in substantial cost reductions and enhanced operational efficiency. The Corporate Trade Finance Portal is available as a cloud-based, multi-tenant SaaS solution.

Therefore, no additional software installation is required on-site and all users can benefit from the ability to adapt to new market requirements through centrally managed software upgrades. Officials from ELCY highlighted that the partnership with Finastra will further increase the company’s visibility and reach in the market, helping deliver the benefits of its multi-bank portal solution to corporates globally. Customers using the portal will be equipped to communicate, both on the import and export side, with any SWIFT-enabled bank in the world to manage their day-to-day trade finance processing.

Furthermore, the portal includes a modular functionality enabling corporates to monitor counterparty and bank exposure, manage global bank limits, and provide reports for credit and treasury departments in real-time. About Finastra Finastra is a global provider of financial software applications and marketplaces. It serves institutions of all sizes, providing software solutions and services across lending, payments, treasury and capital markets, and universal banking (retail, digital, and commercial banking) for banks to support direct banking relationships and grow through indirect channels, such as Embedded Finance and BaaS.

About ELCY ELCY is an independent private company providing ecommerce solutions for the processing of international trade finance. The firm’s core product, elcyMBP, is a multi-bank portal that enables corporates to communicate in a secure and authenticated manner with all their trade finance banks through one centralised platform. .