back Back

Finastra and InfoTech help NBP to modernise trade finance operations

By Leandra Monteiro

November 04, 2022

  • Digital Lending
  • Digital Transformation
  • Finastra

Finastra, NBP, InfotechFinastra has announced that NBP (National Bank of Pakistan) has implemented Finastra’s Fusion Trade Innovation solution to power its trade finance operations. InfoTech (Pvt) Ltd., a systems integrator and Finastra’s exclusive authorized and certified reseller in Pakistan, led the deal and implemented the solution, which will enable NBP to lower transaction costs and provide corporate customers with a superior user experience.

“In the digital age it is important to have the right systems in place to give customers the best possible experience, so digital transformation has been a key priority for us,” said Imran Farooqui, SEVP & Group Chief, Operations, NBP. “Having already built a relationship with Finastra and InfoTech, we are confident in their industry-leading offerings and the ongoing service they provide after implementation. Fusion Trade Innovation will give us the tools we need to modernize, future-proof and ultimately grow our business.”

Finastra’s end-to-end working capital solution, Fusion Trade Innovation, is one of the industry’s leading booking engines. It includes capabilities for frictionless trade and supply chain finance, including buyer and seller loans, letters of credit, collections, guarantees, and government support for export credit and SME loans. Fusion Trade Innovation gives banks control with a development toolkit that enables them to deliver change themselves, all within a solution that is maintained by Finastra. This future-proofing feature provides a more predictable total cost of ownership and enables banks to maintain a clear upgrade path.

“Increasing complexity, regulatory changes and cost of capital mean that efficient trade and supply chain finance management has never been more important. In this environment, banks that are constrained by legacy infrastructures, disjointed processes and fragmented transactional views will struggle to successfully grow their businesses,” said Manish Joshi, Managing Director, Middle East, Africa and Asia Pacific at Finastra. “Fusion Trade Innovation is a comprehensive, modern solution that overcomes these challenges, and we look forward to helping NBP take its trade finance business to a new level.”

“InfoTech is delighted to spearhead this implementation at Pakistan’s largest public sector bank,” said Asim Haque, Vice President, Banking Services Business Unit, InfoTech. “We were able to automate NBP’s trade operations nationwide, which were previously managed manually. Integrating this with the core, treasury and SWIFT not only gives NBP 360-degree visibility of its trade transactions, but has also managed to reduce operational costs. We look forward to helping NBP to grow its business further with Finastra’s solutions.”

Previous Article

November 03, 2022

BlueSnap extends partnership with objectsource

Read More
Next Article

November 04, 2022

Thunes partners with Saudi Arabia’s Enjaz Payment Services

Read More

IBSi Daily News Analysis

South East Asia

February 28, 2024

Digital Lending

FinTech penetration in Southeast Asia will double by 2027, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 29, 2024

Barclays to sell $1.1b worth US credit card debt to Blackstone

Read More

February 29, 2024

5 FinTech platforms offering SME Loans in Australia

Read More

February 29, 2024

SC Ventures launches digital marketplace for MSMEs in Ghana

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023