National Bank of Pakistan (NBP), the country’s largest public sector bank, has partnered with Finastra to implement its cutting-edge Fusion Trade Innovation solution. This collaboration aims to streamline NBP’s trade finance operations, reduce costs, and enhance the experience for corporate clients.
NBP partnered with InfoTech, a certified Finastra reseller, to implement the solution.
“Digital transformation is a key priority for us,” said Imran Farooqui, SEVP & Group Chief, Operations, NBP. “Fusion Trade Innovation provides the tools we need to modernize and future-proof our trade finance operations, ensuring a clear path for growth.”
Boosting Efficiency and User Experience
Finastra’s Fusion Trade Innovation is an industry-leading solution designed to simplify trade and supply chain finance. It automates processes previously handled manually, offering functionalities for various instruments including letters of credit, collections, and buyer and seller loans. Notably, the solution empowers banks like NBP to customize the system for future needs through an integrated development toolkit.
“Modern solutions like Fusion Trade Innovation are crucial for banks to thrive in today’s complex environment,” said Manish Joshi, Managing Director, Middle East, Africa and Asia Pacific at Finastra.
Enhanced Visibility and Reduced Costs
Asim Haque, Vice President, Banking Services Business Unit, InfoTech, commented on the implementation’s benefits:”This integration with core banking systems, treasury, and SWIFT provides NBP with a 360-degree view of trade transactions, while also reducing operational costs.”
Positioned for Success
This partnership signifies NBP’s commitment to digital transformation and positions them for continued success in the trade finance arena. By leveraging Finastra’s advanced technology, NBP can streamline operations, reduce costs, and deliver a superior user experience for its corporate clients.
