Finastra Partner Elcy for Corporate Trade Finance SaaS Release
(18 October 2023 – United Kingdom) Finastra has teamed up with Elcy to launch a centralised Software-as-a-Service (SaaS) platform linking corporates with banks for sourcing trade finance.
Enterprises are enabled with direct Swift-enabled communication with any global bank including the ability to monitor counterparty exposure and manage limits. The portal is a cloud-based, multi-tenant SaaS solution with centrally managed software upgrades.
The corporate trade finance portal gives CFOs and treasurers greater coordination and flexibility over their liquidity leverage and cash management while omitting the need to connect to multiple different proprietary systems.
“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” commented Finastra Enterprise Solutions VP, Jaime Lynn.
“All instructions or messages sent through the portal can be tailored to conform with the message type preferred by the bank in question. We think this is where the growth exists for multibank solutions” commented Elcy CEO, Robin Cohen.
“The portal is a way for banks to enhance their broader relationship with corporates.”