Bengaluru-based IBSFINtech, which provides a corporate treasury management solution, has partnered with Thomson Reuters.
The FinTech said it has partnered with Thomson Reuters to power their Treasury Management Solution with trusted & timely financial market data for corporations. The integration will enable treasurers to mitigate operational risk, drive automation and optimise business efficiency according to the company.
Prashant Pillai, head of corporate for Thomson Reuters in South Asia, said: â€œIn an increasingly challenging global market, the need to manage treasury, market risk and regulatory compliance is a top priority for corporate treasurers.
â€œSolutions such as IBSFINtechâ€™s Innovative Treasury plays a key role in helping corporate treasurers manage these effectively. Thomson Reuters is pleased to collaborate with IBSFINtech to power this solution with our market feeds and offer customers robust data and market analysis, comprehensive view of risk and access to FX liquidity.â€
IBSFINtechâ€™s treasury risk management solution uses cutting-edge technologies to efficiently run a front office to trade in forex. It claims to integrate them â€˜seamlesslyâ€™ to back office with built-in flexibility to handle complex settlement procedures and maturity mismatches.
The solution leverages technology to not only to minimise market risks but also to optimise risk-reward trade-off. The product consumes integrated and real-time data to empower corporate treasury departments with complex decision making and thus enhancing business performance.
Corporates leveraging IBSFINtechâ€™s solution include, JSW Steel, Olam Agro India, Maruti Suzuki India, Mahindra & Mahindra, Sonalika International Tractors, Sai Life Sciences, Himatsingka Seide, Indofil Industries, Future Group, Times of India Group and SnapDeal among others. the product also conforms to statutory compliances and regulatory norms.
In December, the company was reported to be looking to raise $4m in Series A funding according to a report by IndiaTimes. With the money it plans to expand its footprint to South-East Asia and the Middle East.
Chandra Mohan Grover, MD & CEO, IBSFINtech said, â€œWe are excited about this collaboration with Thomson Reuters, which will add great value to our customers. IBSFINtechâ€™s Treasury management solution powered by Thomson Reuters market information will help the organizations enhance, integrate and improve visibility as well as bring about enhanced efficiency in their Treasury operations.â€
Thomson ReutersÂ recently formed a partnership with Salesforce to help onboard new customers and meet regulatory AML and KYC obligations. Thomson Reuters World-Check, a databases of risk intelligence data to support companies in meeting their due-diligence obligations, will be integrated with Salesforce AppExchange.
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