Financial news

Finastra, the UK headquartered retail banking solutions provider, has established its footprint in the APAC region as it announced two new partnerships in February.

Regtech UNITAS, based in South Korea, and SYSTEX, the IT services provider, based in Taiwan, are the latest firms in the Asia Pacific (APAC) region to partner with Finastra to capitalise on the retail banking solutions provider’s treasury solution, Kondor.

Digital transformation in South Korea

Finastra Kondor enables financial institutions to trade high volumes of treasury while offering the flexibility to support more complex derivatives, options, and structured trades. The solution can be easily integrated with existing systems and applications, enabling simplification, lowering costs and creating a single source of truth – all while ensuring that the organization remains compliant.

Capitalising on the Kondor tech, UNITAS will combine its local expertise with Finastra’s offering to enable more banks in the country to digitally transform and grow their business.

“After many years helping banks in South Korea to digitally transform their treasury operations, we are excited to combine our experience with UNITAS – a leading name in South Korea’s financial risk and compliance market,” said Richard Zhu, managing director, treasury and capital markets, APAC, Finastra. “With its experience and reach in the market, working alongside UNITAS will enable us to bring an even more comprehensive offering to Korean financial institutions and help grow their businesses.”

“With our common client profile, this partnership presents clear synergies and enables us to offer Finastra’s best-of-breed trading system to our existing and new clients, as well as opening up a new revenue stream,” said Dooho Lee, director, UNITAS. “We look forward to working with Finastra to help more banks transform their treasury operations.”

Comprehensive treasury solutions for Taiwan banks

In Taiwan, SYSTEX will resell Finastra’s Kondor and Risk solutions, creating an offering that combines Finastra’s trading system with SYSTEX’s local expertise and broad technology services capabilities. The partnership will enable more banks in Taiwan to digitally transform and grow their businesses.

Finastra Risk is a fully automated, end-to-end solution that allows banks to manage risk and margin monitoring. This is as well as balance sheet optimisation and regulatory reporting. With one dashboard and seamless integration with existing architecture, Risk provides a total risk management system that enables better performance, scalability and visibility for timely and accurate decision-making.

“SYSTEX is a market leader in integrated business solutions and technology services, and we are pleased to partner with them to fuel banks’ trading operations in Taiwan,” said Zhu. “Together, we look to bring a comprehensive end-to-end offering to banks in Taiwan. As a result, this will fuel digital transformation and business growth for banks in this important market.”

Reese Chang, vice president of SYSTEX Co., Ltd. said: “This partnership will provide innovative and comprehensive financial information technology services and solutions. Fintech upgrades and transformation require vertical integration capabilities. Consequently, through this partnership, we are making a strategic breakthrough in the financial services sector.”