Finastra, a prominent global provider of financial software applications and marketplaces, is joining forces with ELCY, a leading specialist in e-commerce solutions dedicated to the processing of international trade finance.
The collaboration between Finastra and ELCY aims to offer a consolidated trade finance solution tailored for corporates. This partnership is envisioned to alleviate the challenges faced by corporates in accessing multiple banking systems, subsequently reducing operational costs and enhancing overall efficiency.
Finastra is recognised worldwide for its innovative financial software applications and marketplaces. Their expertise lies in creating tools and platforms that cater to the intricate needs of the financial world. On the other side, ELCY stands out as an expert in designing e-commerce solutions, focusing on processing aspects of international trade finance, ensuring seamless transactions in the global trade domain.
Their combined offering, the Corporate Trade Finance Portal, promises corporates a unified platform to securely liaise with all their banking counterparts. This portal will grant corporates amplified visibility and real-time command over all trade finance dealings across their spectrum. Notably, the platform simplifies the process by removing the necessity of connecting to varied bank proprietary systems and eliminating paper-based methods.
Finastra Vice President, Enterprise Solutions Jaime Lynn said, “Finastra is thrilled to build on our long-term relationship with ELCY through a global collaboration that creates immediate value for both parties. ELCY brings a wealth of expertise in meeting the trade finance needs of corporates, while Finastra meets the end-to-end digitisation 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 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.”
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