Warning: Parameter 2 to wp_hide_post_Public::query_posts_join() expected to be a reference, value given in /home/bwmonline/bankingmonthly.com/wp-includes/class-wp-hook.php on line 287
Nucleus Software launches latest version of Transaction Banking Solution; Introduces Trade Finance Portal | Banking Monthly Nucleus Software launches latest version of Transaction Banking Solution; Introduces Trade Finance Portal | Banking Monthly
Categories: Technology

Nucleus Software launches latest version of Transaction Banking Solution; Introduces Trade Finance Portal

Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced the latest version of its transaction banking solution called FinnAxia 5.0 and introduces Trade Finance portal.

According to a recent report, Fortune 500 companies incur more than $81 billion of unnecessary supply chain and working capital costs each year due to inefficiencies and lack of visibility in trade finance. Digitization has the potential to overhaul trade finance by enabling the convergence of physical, financial and document chains, providing complete visibility of the supply chain and automating key processes such as – document evaluations, due-diligence checks and the generation of purchase orders and invoices.

FinnAxia 5.0 includes a newly launched Trade Finance Portal and which would help corporate customers with a single, global view of their trade finance business. This will reduce the risk of fraud and will also enable the bank to make faster and more efficient financing decisions. FinnAxia 5.0 also comes with comprehensive cash management features to ensure working capital optimization for the bank’s corporate customers. The solution also allows the corporates to define their own liquidity structures and visualize the prospective outcomes graphically.

With a constant emphasis on ensuring compliance to regulations, the new release of FinnAxia comes with the International Transaction and External Position System (ITEPS) to achieve payments compliance in the Malaysian market and also offers India-based NPCI compliant Direct Debit Mandate capabilities via both physical and electronic forms.

With FinnAxia 5.0, corporate banks can capture new business opportunities, enable working capital management for their corporate customers and ensure compliance with new regulations in the transaction banking space.

Mr. Ravi Pratap Singh, Head – Global Product Management & Executive Director, Nucleus Software said, “As a leader in the financial technology space, Nucleus Software has always focused on product innovation with a passion for perfection and a relentless commitment to deliver best-in-class products to corporate banks globally. This has, in turn, helped our customers respond faster to the changing market dynamics and capture new business opportunities as and when they arrive. The latest release of FinnAxia 5.0, includes a state-of-the-art trade finance portal, which provides corporate customers a 360 degree view of their cash positions and enable them to take faster and more informed decisions”.

 

bwmadmin

Share
Published by
bwmadmin

Warning: Parameter 2 to wp_hide_post_Public::query_posts_join() expected to be a reference, value given in /home/bwmonline/bankingmonthly.com/wp-includes/class-wp-hook.php on line 287

Recent Posts


Warning: Parameter 2 to wp_hide_post_Public::query_posts_join() expected to be a reference, value given in /home/bwmonline/bankingmonthly.com/wp-includes/class-wp-hook.php on line 287

Bank of Thailand secures integral phase of Corporate Excellence Strategy with SimCorp Dimension go-live

SimCorp, a leading provider of investment management solutions and services to the global financial services industry, has…

2 years ago

UK banks commit £6.5 million to tighten money laundering controls

The UK's major banks are to pump £6.5 million into a project to reform the…

2 years ago

What’s New in Europe’s Banking Sector? Infiniti Research Reveals the Banking Industry Trends in Europe

A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article…

2 years ago

N26 launches in the US

German digital bank N26 has launched in the US, beginning a phased roll out of…

2 years ago

Sensibill raises $31.5 million to power AI banking solution for freelancers and small business owners

Toronto-based fintech, Sensibill, announced that it has secured $31.5 million USD in Series B funding. The…

2 years ago

Asian Infrastructure Investment Bank offers USD 100m in debt for Indian renewables

India’s L&T Infrastructure Finance Co Ltd will get USD 100 million (EUR 88.9m) in debt…

2 years ago