[ad_1]
Finastra and HSBC are working together to distribute HSBC’s foreign exchange (FX) services through Finastra’s FusionFabric.cloud platform as a banking-as-a-service (BaaS) offering.
Finastra teams up with HSBC
The firms say the move will enable mid-tier banks to embed FX services “directly” into corporate and branch channels.
They claim their combined services will allow participating banks to deliver a wide range of currencies to their customers through branch networks and other retail channels without requiring any additional technology integration.
“It will also provide clients with highly automated FX pricing capabilities, allowing banks to process higher FX volumes, and to differentiate themselves while maintaining their own customer relationships,” the companies add in a joint statement.
“Corporate clients will benefit from increased transparency of pricing and market conditions, improved ease of execution, and simpler currency risk management.”
The solution will be made available in H2 2022, with the initial rollout focusing on financial institutions in Asia Pacific (APAC) with other regions to follow soon after.
Angus Ross, chief revenue officer, banking-as-a-service (BaaS) at Finastra, says: “The ability to integrate FX directly into corporate treasury platforms, as well as competitive pricing and liquidity into a single package will help reduce friction for regional banks and their customers and demonstrates a use case in which BaaS can really make an impact.”
[ad_2]
Image and article originally from www.fintechfutures.com. Read the original article here.