FINANCIAL MANAGEMENT, FINTECH

Finastra and Modefin partner to provide best-in-class fintech solutions for banks in Africa and selected Indian subcontinent markets

Finastra | November 14, 2022 | Read time : 05:00 min

Finastra and Modefin partner to provide best-in-class fintech
Finastra, a global provider of financial software applications and marketplaces, and Modefin, a global fintech solution provider helping banks to thrive in the digital age, today announced their partnership to offer Finastra's Fusion Trade Innovation and Fusion Essence solutions to banks in Africa and several Indian subcontinent markets. With Finastra's solutions, Modefin will help its customers embrace open finance today and future-proof their banking and global trade operations.

"We are excited to partner with Finastra and bring its proven solutions to our current and future customers, We have a longstanding relationship, having partnered previously to bring our own solution to market via its FusionFabric.cloud platform. It's a pleasure to continue strengthening our relationship, and I look forward to bringing together Finastra's solutions and expertise with our knowledge of the regional market and strong customer base."

- Amit Darda, Co-Founder and Director at Modefin

Finastra supports banks as they continue to adapt to changing market requirements and customer expectations – while futureproofing for tomorrow. Fusion Essence, the cloud-enabled next-generation core banking solution, combines sophisticated functionality and advanced technology to increase enterprise agility and operational efficiency, while using AI to unlock data for smarter business decisions. The SaaS offering covers every stage of the user journey, enabling financial institutions to deliver end-to-end experiences for differentiation.

Fusion Trade Innovation is Finastra's end-to-end solution with industry-leading capabilities for frictionless trade and supply chain finance. It uses straight-through processing, digitalization, and data analytics to enable intelligent trade for growth, with the ability to evolve with evolving compliance, customer and competitive demands.

At Finastra, we believe that finance is already open, Our open ecosystem and best-of-breed solutions enable banks to leverage advanced technology and value-added services for ongoing innovation and growth. Our partners play an integral role in helping us to deliver this. With its strong team, track record, on-the-ground presence and shared passion for open finance, we are pleased to partner with Modefin to help propel banks forward in the region, said Wissam Khoury, EVP, Partner Ecosystem and Treasury & Capital Markets at Finastra.

About Finastra
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets, and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks.

About Modefin
Modefin is a global fintech solution provider that empowers banks and financial institutions with state-of-the-art digital banking solutions that help them to thrive in the digital age. Founded in 2011 and headquartered in Bangalore, India, we currently serve 60+ banks in more than 20 countries worldwide. With our technical expertise and domain knowledge, Modefin provides infinite banking possibilities for banks of any size to accelerate their digital transformation & stay ahead of the competition. We aim to deliver quality products and services that are reliable, built on long-standing values and relationships, winning confidence of customers, and enhancing their lives.

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The rise of digital banking has coincided with a decline in the presence of traditional banks, which have faced a loss of 9% of all branches across the country in the past 4 years.


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The rise of digital banking has coincided with a decline in the presence of traditional banks, which have faced a loss of 9% of all branches across the country in the past 4 years.

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