Finastra has recently revealed its partnership with UNITAS, a key player in South Korea’s financial risk and compliance sector, marking UNITAS as a strategic collaborator for Finastra’s Kondor treasury solution. The collaboration aims to capitalize on UNITAS’s extensive local expertise in risk and compliance solutions for financial institutions and Finastra’s advanced treasury trading system. Together, the partnership seeks to enable more South Korean banks to embrace digital transformation, ultimately promoting business growth in the region.
Richard Zhu, Managing Director of Treasury and Capital Markets for the Asia-Pacific region at Finastra, expressed excitement about the partnership, emphasizing Finastra’s commitment to assisting South Korean banks in modernizing their treasury operations. Zhu highlighted the potential of combining Finastra’s digital transformation expertise with UNITAS’s strong reputation in the financial risk and compliance market, envisioning a comprehensive offering for Korean financial institutions.
Dooho Lee, Director at UNITAS, emphasized the value addition anticipated from the partnership, citing clear synergies in the client profile. Lee highlighted the partnership’s potential to offer Finastra’s cutting-edge trading system to existing and new clients, opening up new revenue streams. UNITAS’s forward-looking approach aims to collaborate with Finastra to facilitate more banks in transforming their treasury operations.
Finastra, serving institutions of all sizes, provides software solutions and services across various banking domains. The company’s flagship Kondor solution is a high-performance trading platform designed for handling extensive treasury activities, including complex derivatives, options, and structured trades. The system offers seamless integration with existing applications, simplifying processes and reducing costs, while ensuring compliance.
The collaboration with UNITAS positions Finastra to offer South Korean banks a comprehensive solution for risk and compliance alongside advanced treasury operations, contributing to the growth of the financial sector in the region. This strategic alliance aims to leverage the strengths of both entities to bring cutting-edge financial solutions to the Korean market.
