Global provider of financial software services Finastra has partnered with Integro Technologies to offer digilisation and exposure risk offerings for clients. Following this collaboration, Finastra will provide customers with its Trade Innovation solutions, along with Integro’s SmartLender Trade Limits service.

Banks and financial institutions around the world will be able to combine the exposure risk capabilities of SmartLender’s products with the front-to-back capabilities for frictionless trade and supply chain finance offered by Trade Innovation. Designed with end-to-end centralised processing capabilities and an open suite of APIs, the SmartLender Trade Limits provides merchants and clients with easy and efficient configurability, while improving productivity with reduced rates of a trade network and active limit monitoring. The product enables companies with global trade limits structures and limits checking from numerous points of view, such as country risks, industry risks, sector threads, group, and counterparty threads, all focused on the rapid handling of changes to workloads and user demands to ensure business continuity.

Trade Innovation represents a booking engine with embedded workflow management that covers multiple aspects of working capital and supply chain finance. The solution provided by Finastra offers open connectivity to networks, the design, and management of digital documents, automation of compliance, as well as document checking tasks leveraging Artificial Intelligence and machine learning. The service reduces friction in processing while improving the turnaround times and digitalisation of the documentation and processes involved in complex wording and workflows.

Banks have the possibility to accelerate their development to paperless trade and allow faster and more efficient automation in their operations and services while reaching market requirements and client preferences and demands. Finastra’s strategy Global provider of financial software applications and marketplaces Finastra offers institutions of all sizes multiple solutions and services, across different areas, such as lending, treasury, capital markets, retail, digital banking, commercial banking, and payments. Finastra's partnership with Integro Technologies was announced a couple of days after the company was rumored to explore a sale of its banking unit for as much as USD 7 billion.

According to the press release published at the time, Finastra was in the midst of splitting off the universal banking sector, which provides software to banks and credit unions that conduct fundamental activities, while preparing to launch a sale process in the following weeks. At the beginning of February of 2023, Finastra unveiled a risk management solution available for banks. The tool is called Finastra ALM IQ and it was set to start in March of 2023.

The system was designed with compliance features, an effective forecasting engine, as well as a flexible reporting structure. Its aim was to meet the demands of small and mid-sized banks, such as community banks in the US. The AML IQ gives banks a way to deal with various regulatory requirements, by mitigating risks and using SaaS technology.

The product is also based on Open Banking standards and has a low total cost of ownership. In January 2023, Finastra partnered with Germany-based embedded finance provider XPAY to support its development plans. The Fusion Essence product of Finastra was already integrated into XPAY’s payment processors and Salt Edge’s Open Banking Compliance.

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