Transforming Trade Finance with Finastra and Tesselate’s New Partnership
In a groundbreaking collaboration, Finastra and Tesselate have unveiled a transformative solution to propel the digital evolution of trade finance within US banks. The newly launched Tegula Trade Finance as a Service, powered by Finastra Trade Innovation and Corporate Channels, marks a significant stride towards simplifying and accelerating the digitalisation of financial institutions.
Addressing Industry Challenges: Streamlining Manual Processes
🦾 Tegula Trade Finance as a Service, powered by Finastra Trade Innovation and Corporate Channels, enables US banks to automate manual processes and adapt to new demands with a quicker time to market and value.
Traditionally, trade finance has been burdened by intricate manual processes, often leading to inefficiencies and heightened risks. Recognising this, Jim McMahon, Managing Director at Finastra, underscored the critical need for automation and intelligence infusion to streamline operations and mitigate risks associated with manual handling.
Integration of Cutting-edge Technologies: The Role of FusionFabric.cloud
Central to this initiative is integrating cutting-edge technologies such as artificial intelligence, blockchain, and automation tools facilitated through Finastra’s FusionFabric.cloud platform. This integration empowers banks to seamlessly incorporate fintech applications, fostering a dynamic ecosystem primed for innovation and adaptability.
At its core, Tegula represents a scalable, cloud-hosted Trade Finance as a Service platform, meticulously crafted to align with the diverse needs of banking organisations; intuitive design and robust architecture, Tegula offers a flexible framework that can be effortlessly integrated into existing infrastructures, ensuring a smooth transition towards digitalisation.
Alexandre Arnoux, Co-Founder and Chief Revenue Officer at Tesselate, emphasises the advantage of delivering a holistic solution as a managed service. This approach alleviates the financial burden of large-scale technology investments and enables banks to reallocate resources efficiently without compromising their core operations.
Beyond operational efficiency, the collaborative efforts of Finastra and Tesselate hold profound implications for the future trajectory of trade finance. By promoting interoperability and simplifying complex processes, the joint solution enables banks to unlock new revenue streams, penetrate untapped markets, and fortify their security infrastructure.
Conclusion: Pioneering Innovation in Trade Finance
In essence, the alliance between Finastra and Tesselate underscores a shared commitment to driving innovation and ushering in a new era of digitalisation in trade finance. With Tegula poised to revolutionise the trade landscape across the United States, the stage is set for a transformative journey towards enhanced efficiency, agility, and profitability in trade finance operations.
