back Back

Finastra & ELCY partner to offer trade finance solution for corporates

By Gloria Methri

October 17, 2023

  • Cash Flow
  • Corporate Trade Finance
  • ELCY
Share

Finastra, ELCY, Corporate Trade Finance, FinTech, UK, EuropeFinastra has partnered with ELCY, a specialist in e-commerce solutions 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 one centralized platform. As a result, corporates will benefit from greater visibility and real-time control of all trade finance exposures across their organizations.

“Finastra is thrilled to build on our long-term relationship with ELCY through a global collaboration that creates immediate value for both parties,” said Jaime Lynn, Vice President, Enterprise Solutions, Finastra.

“ELCY brings a wealth of expertise in meeting the trade finance needs of corporates, while Finastra meets the end-to-end digitization needs of banks focused on international trade and supply chain finance. Our close collaboration with ELCY expands our suite of solutions for corporates, enabling them to connect to all banks supplying them with trade finance through a single portal. Corporate users benefit from much greater visibility and control in managing their cash flow and trade finance exposures and in reducing risk.”

Robin Cohen, Chief Executive Officer, ELCY added, “Our partnership with Finastra will further increase our visibility and reach in the market, helping us deliver the benefits of our multi-bank portal solution to corporates globally. Customers using our joint Corporate Trade Finance Portal will be equipped to communicate seamlessly, both on the import and export side, with any SWIFT-enabled bank in the world to manage their day-to-day trade finance processing. All instructions or messages sent through the portal can be tailored to conform with the message type preferred by the bank in question. Furthermore, the portal includes extensive modular functionality enabling corporates to monitor counterparty and bank exposure, manage global bank limits, and provide reports for credit and treasury departments all in real-time.”

The Corporate Trade Finance Portal is available as a cloud-based, multi-tenant SaaS solution meaning no software installation is required on site and all users benefit from the ability to adapt quickly to new market requirements through centrally managed software upgrades.

Previous Article

October 17, 2023

Finland’s Aktia selects Temenos to modernize payments

Read More
Next Article

October 17, 2023

Wolters Kluwer brings new upgrades to Enablon Vision Platform

Read More









IBSi Daily News Analysis

islamic finance, fintech

November 28, 2023

Cash Flow

A $4 trillion Islamic banking market to be driven by FinTech, study shows

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

November 28, 2023

Genio Diligence joins Mia-Platform Partner Network

Read More

November 28, 2023

Bluefin & ID TECH team to boost payment security with AES encryption

Read More

November 28, 2023

XTransfer and Tencent Cloud team to digitise foreign trade enterprises

Read More

Related Reports

Sales League Table Report 2023

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q2 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2023

£1,500.00 / year

Know More
Next-Gen Debt Collection Systems Growing Importance of Collections Q4 2023

£500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2023

£1,500.00 / year

Know More

IBSi Sales League Table

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