Finastra, a global provider of financial software applications and marketplaces, has announced a partnership with CQUR Bank, an international corporate bank. This collaboration is set to advance CQUR Bank’s technology strategy through the adoption of Finastra’s renowned digital solutions, Trade Innovation and Corporate Channels.
The integration of these solutions will enable CQUR Bank to launch a new online banking portal, enhancing the digital experience for corporate clients, introducing efficient digital workflows, and providing host-to-host integration solutions.
Justin Kenny, Chief Operating Officer at CQUR Bank, said, “To truly meet the complex demands of our customers, we needed to upgrade our online banking solution to deliver greater connectivity, faster onboarding experiences and access to sophisticated trade finance services that accelerate growth.”
“We selected Finastra due to its market-leading solutions that enable us to introduce a comprehensive front-end open architecture to provide access to a variety of fintechs. By broadening our offering and streamlining existing processes, we will be able to create more service value and deepen the relationships with our clients.”
Hussam Alkokhon, Head of Trade Finance at CQUR Bank, said, “Finastra is a market leader in trade services globally, which plays to our ambition of being the best trade finance provider in GCC, with the highest standards of risk mitigation and compliance.”
Corporate Channels, Finastra’s digital banking platform, will provide CQUR Bank with a unified portal that consolidates trade, cash, supply-chain finance, lending, and treasury services for its corporate clientele.
Trade Innovation, on the other hand, is a comprehensive solution designed to streamline trade and supply chain finance. It leverages straight-through processing, digitisation, and data analytics to bolster the bank’s growth and adaptability to emerging demands.
Kamal El Khoury, Managing Director, MENAT Lending at Finastra, said, “CQUR Bank has extensive expertise in financial services and in empowering international trade.”
He elaborated, “Corporate customers are increasingly demanding faster, digital and connected services from their bank that truly elevate how they manage their finances and pursue new avenues for growth. By delivering new services and improving the end-to-end customer experience, the bank can future-proof its business while continuing to enhance economic growth through trade and sustainable development.”
