BanBif selects Finastra to modernise trade finance operations

By Milan Rojan

Banco Interamericano de Finanzas (BanBif) has selected Finastra’s Trade Innovation and Corporate Channels solutions as part of its trade finance modernisation programme, strengthening its digital capabilities for foreign trade operations and enhancing services for corporate clients.

Marco Osorio, Foreign Trade Manager at BanBif, said: “Implementing these solutions is part of our ongoing effort to transform and strengthen our capabilities in foreign trade operations. We seek to continue providing our corporate clients with modern, secure platforms aligned with the current needs of international trade.”

The implementation has been designed to streamline trade finance processes, improve operational efficiency and increase transparency across the transaction lifecycle. BanBif’s business customers have been expected to benefit from faster processing of letters of credit, documentary collections and international guarantees, alongside improved communication and greater visibility into transaction progress.

Vinay Mendonca, VP Product Management, Trade and Supply Chain Finance at Finastra, said: “BanBif’s move to Finastra Trade Innovation and Corporate Channels will streamline its daily operations and simplify the work for both staff and customers. With more automation and better visibility, BanBif will be able to process trade transactions faster, support client growth, and deliver the reliable, responsive experience that businesses expect.”

By reducing manual processes and paperwork, the new platforms have been intended to improve the speed, accuracy and reliability of trade finance operations. The bank has also anticipated more streamlined workflows, stronger reporting capabilities and enhanced controls to support compliance and operational oversight.

The implementation has been supported by TCMpartners, Finastra’s local integration partner in Peru, providing implementation expertise and ongoing support. The collaboration has combined Finastra’s trade finance technology with local delivery capabilities as BanBif has continued to modernise its banking infrastructure and strengthen digital services for businesses engaged in international trade.