Finastra, Komgo partner to digitise trade finance workflows

By Divya Shah

Finastra has partnered with Komgo, a digital trade finance platform provider, to help banks and corporates tackle inefficiencies created by fragmented trade systems and manual, data-intensive processes. 

The collaboration aims to streamline end-to-end digital trade finance workflows and improve connectivity across trade ecosystems, enabling financial institutions and businesses to scale operations more efficiently. 

As part of the partnership, Finastra will leverage its Trade Innovation Nexus open API integration layer to connect Komgo’s Konsole digital trade finance platform with Trade Innovation.  

Baptiste Audren, Chief Revenue Officer at Komgo, said, “By connecting Komgo’s trusted, multi-bank digital trade finance infrastructure with Finastra’s Trade Innovation, we are bringing our proven digital trade capabilities to a broader base of banks and corporates through Finastra’s extensive client base, while giving Finastra’s customers direct access to the industry’s most widely adopted trade finance network.” 

The integrated solution is designed to create a more connected trade finance experience, reducing manual intervention, improving interoperability, and increasing visibility across trade finance networks while preserving existing bank  

The partnership is expected to deliver several benefits for banks and corporate clients, including faster transaction processing, streamlined onboarding and reduced manual exceptions through automated workflows. 

It will also support greater transparency by enabling auditable, straight-through processing (STP) through digital workflows, helping improve visibility and build trust among all participants in the trade finance ecosystem. 

Additionally, the integrated offering incorporates built-in regulatory checks and enhanced security capabilities to simplify compliance, reporting and audit requirements. It also provides financial institutions with tools to strengthen risk assessment and mitigation processes. 

Vinay Mendonca, Head of Trade & Supply Chain Finance and Digital Channels at Finastra, said, “This partnership reflects our shared commitment to helping financial institutions modernise trade finance through open, connected technologies. By combining Finastra’s deep trade finance capabilities with Komgo’s digital trade services through our Nexus API integration layer, we are enabling customers to reduce complexity, increase transparency and provide more streamlined trade finance experiences.” 

Through open integration and interoperable workflows, Finastra and Komgo aim to support financial institutions in accelerating digital trade transformation while delivering more efficient and agile trade finance services to corporate customers.