Finastra has partnered with Komgo, a digital trade finance platform provider, to help banks and businesses deal with problems caused by disconnected trade systems and manual processes.
The partnership aims to make digital trade finance workflows smoother from start to finish. It will also improve connections between different systems, helping businesses and banks grow more efficiently.
The companies will use Finastra’s Trade Innovation Nexus, an open API integration platform, to connect Komgo’s Konsole digital trade finance platform with Finastra’s Trade Innovation solution.
The combined solutions will help customers reduce manual work, improve communication between systems and get better visibility across trade finance activities. The integration is designed to work with existing bank infrastructure without requiring major changes.
“Finastra’s global presence, open platform approach and strong commitment to innovation in trade finance made it a natural partner for us,” said Baptiste Audren, Chief Revenue Officer at Komgo. “Digital trade continues to make global commerce more accessible and efficient, but progress often comes with added complexity. This is exactly where technology can help. By connecting Komgo’s trusted, multi-bank digital trade finance infrastructure with Finastra’s Trade Innovation, we are bringing our proven digital trade capabilities to a broader base of banks and corporates through Finastra’s extensive client base, while giving Finastra’s customers direct access to the industry’s most widely adopted trade finance network.”
Vinay Mendonca, Head of Trade & Supply Chain Finance and Digital Channels at Finastra, said: “This partnership reflects our shared commitment to helping Financial Institutions modernize trade finance through open, connected technologies. By combining Finastra’s deep trade finance capabilities with Komgo’s digital trade services through our Nexus API integration layer, we are enabling customers to reduce complexity, increase transparency and provide more streamlined trade finance experiences.”
Finastra is a global financial software company that serves thousands of customers, including many leading banks, across more than 100 countries.
Backed by Vista Equity Partners, Finastra works with financial institutions to provide modern and reliable technology that helps them adapt to change, grow their businesses and better serve their customers.
Komgo is a global fintech company that helps businesses and financial institutions manage trade finance digitally. Its secure platform connects companies and banks around the world.
The platform allows users to manage trade finance products such as guarantees, standby letters of credit and documentary credits online. Headquartered in Geneva, Komgo has offices across Europe, Asia and the Americas and is trusted by more than 400 clients to manage, connect and automate their trade finance activities.
