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Finastra & SYSTEX partner to boost Taiwan's banking sector
Mon, 19th Feb 2024

Finastra has announced a new partnership with SYSTEX, a Taiwan-based IT service provider. Looking to leverage both companies' expertise, the collaboration aims to fuel the digital transformation and potential growth of banks in Taiwan. As part of the partnership agreement, SYSTEX is set to resell Finastra's Kondor and Risk solutions, fusing their market-leading trading system with SYSTEX's local proficiency and extensive technology service capabilities.

Richard Zhu, the Managing Director of Treasury & Capital Markets, APAC, at Finastra commented on the partnership by stating, “SYSTEX is a market leader in integrated business solutions and technology services, and we are pleased to partner with them to fuel banks’ trading operations in Taiwan. Combining Finastra’s leading treasury solutions with SYSTEX’s broad and deep capabilities enables us to bring a comprehensive end-to-end offering to banks in Taiwan, which will fuel digital transformation and business growth for banks in this important market.”

Furthermore, Finastra's Kondor platform facilitates high-volume treasury trade for financial institutions, providing the flexibility to handle more sophisticated derivatives, options, and structured trades. By readily integrating with existing systems and applications, it allows for simplification, cost reduction and the creation of a single source of truth, while ensuring that organisations abide by compliance regulations.

Equally, Finastra's Risk solution is a fully automated service that enables banks to manage risk, monitor margins, and optimise balance sheets, along with regulatory reporting. With a single intuitive dashboard that integrates seamlessly with existing infrastructure, Risk offers a comprehensive risk management system that promises enhanced performance, scalability, and visibility, ensuring timely and accurate decision-making.

Vice President of SYSTEX Co., Ltd., Reese Chang, was enthusiastic about the partnership stating: "This partnership between SYSTEX and Finastra will showcase leading technologies, providing innovative and comprehensive financial information technology services and solutions. Fintech upgrades and transformation require vertical integration capabilities. Through this partnership, we are making a strategic breakthrough in the financial services sector.”

The partnership between Finastra and SYSTEX in Taiwan promises a significant milestone in the provision of integrated and sophisticated solutions to banks. This collaboration aims not only at driving the digital transformation of financial services but also fostering business growth within the sector. Experts look forward to seeing the results this partnership will yield in the APAC market at large and Taiwan in particular.