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Finastra, a global provider of financial software applications and marketplaces, today announced its partnership with CredAble, a working capital finance platform. This partnership aims to enhance the functionality of Finastra Trade Innovation by integrating CredAble’s feature-rich platform, offering both new and existing customers a comprehensive supply chain finance solution.
As a result, banks will be able to boost their revenue growth, expand their operations, and enhance customer satisfaction by providing corporates with a broader range of financial services through a single platform.
“In today’s tough economic climate, it is more important than ever that corporates optimize their working capital and maintain real-time liquidity for long-term growth,” said Satyam Agrawal, Global Head of Product & Retail Business Lending, MD ASEAN & ME at CredAble.
“By combining our AI-powered supply chain finance platform with Finastra’s leading trade finance solution and global reach, we are delivering a holistic, front-to-back trade and supply chain finance offering to more banks worldwide. This enables them to broaden and enhance their operations to facilitate business growth, while ensuring the services they offer continue to meet the demands of corporates today.”
Trade Innovation is a trade services platform that leverages straight-through processing, digitalisation, and data analytics to foster intelligent trade growth while adapting to compliance, customer, and market demands.
CredAble is a working capital platform that empowers banks to offer comprehensive supply chain financing solutions to a wide range of enterprises, including small and medium-sized businesses (SMEs), thereby unlocking valuable revenue opportunities. Together, the partnership delivers top-tier functionality, creating an improved, comprehensive solution for trade and supply chain finance.
“To facilitate truly innovative, relevant and open trade finance services, our partner ecosystem plays an important role,” said Anastasia McAlpine, Head of Product Management for Trade and Supply Chain Finance at Finastra.
“By augmenting the functionality of Trade Innovation with CredAble’s feature-rich supply chain finance offering, we are giving our current and future customers access to a wider array of services that allow them to meet the growing needs of their customers. The partnership ensures institutions can continue to innovate at speed, decrease time to value and utilise data for decision making across the whole of their working capital and supply chain finance portfolio, ultimately supporting increased growth for both their business and that of their customers. It’s another example of how Finastra is harnessing the power of open finance and APIs to build powerful ecosystems that deliver additional value.”
