Bank of East Asia Selects Finastra for Trade Finance Capabilities
The Bank of East Asia (BEA) has extended its partnership with Finastra to enhance its end-to-end digital trade capabilities and customer services for its corporate and personal banking services. The move includes SME customers in Hong Kong, China and overseas. Integrating Finastra’s technology and support services, BEA has upgraded to the latest version of Fusion Trade Innovation to drive efficient inter-bank settlements and stay SWIFT compliant.
Fusion Trade Innovation is a SWIFT-compliant digital trade finance platform that enables banks to streamline and automate onboarding, data exchange and input for its customers leveraging the SWIFT inter-bank network. Its latest functionalities also support banks to optimise efficiencies, enhance service propositions, and reduce operational risk. BEA can now take advantage of enhanced data access to improve products, services and pricing with greater insight into client risk, exposures and their end-to-end supply chain.