Askari Bank selects Finastra to boost trade finance operations
Pakistan-based Askari Bank has selected Finastra and its Fusion Trade Innovation system to underpin its trade finance business.
According to Abid Sattar, CEO and president of Askari Bank, Fusion Trade Innovation was chosen for its ability to “support our growth through powerful end-to-end automation”.
“As a bank that is focused on providing forward-thinking solutions to our customers,” he adds, “working with Finastra allows us to continue developing our digital suite of services and enable our customers to make faster transactions.”
Founded in 1991, Askari Bank provides commercial and retail banking throughout Pakistan. It also operates two systems provided by Autosoft: Adams Islamic for treasury management, and AutoRTGS for real-time gross settlement. The bank went live on both in 2017.
“Corporates are quickly catching up with retail customers and are expecting more from their bank, such as an improved user experience, speed and more innovation,” says Wissam Khoury, senior vice president and managing director for Asia Pacific, and the Middle East and Africa.
“The agreement with Askari Bank signals market readiness for large banks with complex trade finance and corporate banking operations, in locations such as Pakistan.”