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Finastra Trade Innovation, integrated with CredAble's supply chain finance platform, enables banks to grow their trade and supply chain finance business and deliver enhanced customer experiences
LONDON, July 23, 2024 /PRNewswire/ -- Finastra, a global provider of financial software applications and marketplaces, today announced its partnership with CredAble, a working capital finance platform, to expand the functionality of Finastra Trade Innovation. CredAble's feature-rich platform is now integrated with the solution, providing 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 within a single platform.
"In today's tough economic climate, it is more important than ever that corporates optimize their working capital and maintain real-time liquidity for long-term growth," said Satyam Agrawal, Global Head of Product & Retail Business Lending, MD ASEAN & ME at CredAble. "By combining our AI-powered supply chain finance platform with Finastra's leading trade finance solution and global reach, we 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 today."
Trade Innovation is a trade services platform that uses straight-through processing, digitalization 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.
"To facilitate truly innovative, relevant and open trade finance services, our partner ecosystem plays an important role," said Anastasia McAlpine, Head of Product Management for Trade and Supply Chain Finance at Finastra. "By augmenting the functionality of Trade Innovation with CredAble's feature-rich supply chain finance offering, we are giving our current and future customers access to a wider array of services that allow them to meet the growing needs of their customers. The partnership ensures institutions can continue to innovate at speed, decrease time to value and utilize 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. It's another example of how Finastra is harnessing the power of open finance and APIs to build powerful ecosystems that deliver additional value."
About Finastra
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & 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 Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world's top 50 banks. For more information, visit finastra.com
source: Finastra
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