(Boursier.com) — Finastra today announces its collaboration with Fragmos Chain, a blockchain platform that digitizes interactions between financial institutions. This out-of-the-box insertion with Finastra Summit, (Finastra’s OTC solution), is made possible through API-first integration, via FusionFabric.cloud. It enables banks around the world to digitize their OTC derivatives to reduce the costs and risks associated with manual processes…
“Our partnership with Finastra is revolutionizing the way banks trade with each other. In addition to automating post-trade processes and tedious documentation, such as that of the International Swaps and Derivatives Association (ISDA), process digitization will help banks to streamline their operations. A move that will lead to more efficient, safer trading and lower capital costs and risks. We are delighted to work with Finastra and bring added value to the financial markets through state-of-the-art technology,” said Daniel Ivanier, CEO of Fragmos Chain.
Cloud-hosted and integrated with Finastra’s financial markets solution, Fragmos Chain provides banks with next-generation post-trade derivatives. Through intelligent operations and large volumes of data, banks will achieve more efficient transactions that meet regulatory requirements.
In addition, Distributed Ledger Technology (DLT) offers banks the ability to cross-reference their transactions, events, and cash flow for fast, transparent, and collaborative settlement. Data can thus be stored securely and exchanged with other stakeholders in real time…
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