Finastra partners with UNITAS to enhance treasury solutions in South Korea
In a significant development for the financial industry in South Korea, Finastra, a global leader in financial software applications, has announced a strategic partnership with UNITAS, a renowned expert in financial risk and compliance solutions. This collaboration aims to empower South Korean banks with advanced digital transformation capabilities, leveraging Finastra’s top-tier Kondor treasury solution alongside UNITAS’s deep local expertise.
The partnership between Finastra and UNITAS is poised to bring a comprehensive suite of treasury and trading system solutions to the South Korean market. Richard Zhu, Managing Director of Treasury & Capital Markets at Finastra APAC, expressed enthusiasm about the collaboration: “After many years helping banks in South Korea to digitally transform their treasury operations, we are excited to combine our experience with UNITAS – a leading name in South Korea’s financial risk and compliance market.” Zhu emphasized the added value this partnership brings to Korean financial institutions in their pursuit of business growth.
Dooho Lee, Director at UNITAS, highlighted the mutual benefits and synergies of the partnership, stating, “With our common client profile, this partnership presents clear synergies and enables us to offer Finastra’s best of breed trading system to our existing and new clients, as well as opening up a new revenue stream.” Lee’s comments underscore the anticipated positive impact on treasury operations transformation for banks in South Korea.
Finastra’s Kondor treasury solution stands out for its ability to handle high volumes of treasury trades while accommodating more complex derivatives, options, and structured trades. Its seamless integration capabilities with existing systems and applications promise to simplify operations, reduce costs, and establish a unified source of truth for financial institutions. Importantly, Kondor ensures that banks remain compliant with the evolving regulatory landscape, addressing a critical need in today’s financial sector.
This partnership marks a pivotal moment in the financial sector of South Korea, setting a new standard for treasury management solutions. By combining Finastra’s technological prowess with UNITAS’s local insight and expertise, South Korean banks are now better equipped to navigate the complexities of the digital age, optimize their operations, and enhance their competitive edge in the global market.