- Finastra partners with CredAble to integrate their supply chain finance platform with Finastra’s Trade Innovation.
- The integration offers banks a comprehensive, end-to-end supply chain finance solution.
- The partnership aims to boost revenue, expand service offerings, and improve customer satisfaction.
- CredAble’s platform uses AI to enhance working capital and liquidity management.
- Trade Innovation supports intelligent trade growth through digitalization and data analytics.
- The collaboration enables banks to better meet the needs of corporates and SMEs.
- The alliance underscores Finastra’s focus on open finance and ecosystem development.
Main AI News:
Finastra, a prominent provider of financial software and marketplaces, has announced a strategic partnership with CredAble, a leading working capital finance platform. This collaboration aims to enhance Finastra’s Trade Innovation by integrating CredAble’s advanced platform, thereby offering a comprehensive supply chain finance solution to banks worldwide. Through this integration, financial institutions can boost revenue, broaden their service offerings, and improve customer satisfaction by delivering an extensive range of financial services through a single, unified platform.
Satyam Agrawal, Global Head of Product & Retail Business Lending at CredAble, emphasized the significance of optimizing working capital and maintaining liquidity in today’s challenging economic environment. “By merging our AI-powered supply chain finance capabilities with Finastra’s top-tier trade finance solution and expansive global reach, we are presenting a comprehensive trade and supply chain finance offering to banks globally. This partnership allows banks to enhance their operations, support business growth, and address the evolving needs of corporates,” Agrawal stated.
Trade Innovation, Finastra’s trade services platform, leverages straight-through processing, digitalization, and data analytics to foster intelligent trade growth and adapt to changing compliance, customer, and competitive demands. CredAble’s platform empowers banks to deliver robust supply chain financing solutions to various enterprises, including SMEs, while unlocking significant revenue potential. This collaboration merges premier functionalities to offer an enriched, end-to-end trade and supply chain finance solution.
Anastasia McAlpine, Head of Product Management for Trade and Supply Chain Finance at Finastra, highlighted the importance of their partner ecosystem in driving innovation. “Augmenting Trade Innovation with CredAble’s extensive supply chain finance features enables us to offer a broader range of services to our customers. This partnership supports faster innovation, enhances decision-making through data utilization, and drives growth for both our clients and their customers, demonstrating Finastra’s commitment to leveraging open finance and APIs to create value-driven ecosystems.”
Conclusion:
The partnership between Finastra and CredAble represents a significant advancement in global supply chain finance solutions. By integrating CredAble’s advanced platform with Finastra’s Trade Innovation, banks can now offer a more comprehensive range of services, catering to diverse financial needs and accelerating revenue growth. This move highlights a broader trend towards leveraging AI and digital platforms to optimize financial operations and enhance customer satisfaction. The collaboration underscores the growing importance of open finance ecosystems in driving innovation and addressing the evolving demands of corporates and SMEs.
