back Back

Mashreq partners with FinIQ to enhance client experience

By Leandra Monteiro

October 31, 2022

  • Core Systems
  • Finiq
  • Legacy
Share

Mashreq Bank, Mashreq, FinIQ Mashreq Bank, one of the leading financial institutions in the UAE, has signed a strategic agreement with FinIQ, the Singapore-based capital markets technology provider, to streamline its Wealth Management offering with an easy-to-use, single-unified solution.

The FinIQ System has been implemented as Mashreq’s wealth management core system for investment products, replacing multiple legacy applications and providing customers with a simpler service to operate. Equities, funds, bonds, bills, CDs, notes were previously managed by several home-grown and vendor-supplied systems.

Used throughout the banking ecosystem, FinIQ’s front, middle and back-office functionality offers order management workflow, compliance and suitability checks, and performs settlements and accounting entries. Additionally, the system generates all pre-and-post-trade documents, and notifications and facilitates Lombard financing with automated LTV and margin calculations. Custodian links are automated for settlement of bonds, mutual funds and cash equities along with respective corporate actions.

Vipul Kapur, Head of Private Banking at Mashreq, said, “We are delighted to work with FinIQ who will provide their single unified solution as we continue to shape the future of financial services through convenience, innovation and trust, while delivering a seamless experience to customers.”

“Mashreq’s decision to consider FinIQ as a partner of choice in their digital endeavor brings us great pride, ” said Milind Kulkarni, CEO of FinIQ. “The GCC and the Middle East as a region are top priorities for FinIQ where we are confident we can replicate the success we have already enjoyed in the APAC region.”

Previous Article

October 31, 2022

PrimaryBid launches pan-European platform, Connect

Read More
Next Article

October 31, 2022

Synctera launches two new products for FinTech builders

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

Core Systems

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

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

Today

Invest Blue taps GBST for its WealthConnect practice management solution

Read More

July 16, 2024

TISA goes live with Oracle’s core banking system, Flexcube 14.7

Read More

July 16, 2024

Wealth managers grapple with long client onboarding times, study shows

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
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 2024