Finastra, a provider of financial software applications and marketplaces, has partnered with Kotak Mahindra Bank to support its new integrated corporate banking portal, Kotak FYN.
India’s Kotak Bank and Finastra have been working together since October last year to expand the Kotak FYN portal for business and corporate customers. The bank’s customers can use the new enterprise portal to carry out all trade services..
By the end of the year, the Kotak FYN portal, which utilises Finastra’s Unified Corporate Portal solution, will include other services, including account services, payments and collections. This eliminates the need for multiple logins and disparate user interfaces.
Shekhar Bhandari, president global transaction banking, Kotak Mahindra Bank, said: “Working together with Finastra, the Unified Corporate Portal will allow us to make the Kotak FYN portal even more revolutionary. We can provide intuitive, easy-to-use access to many products and user journeys through a single platform, reducing complexity and friction for our customers and providing a truly differentiated user experience.”
Using Finastra’s Unified Corporate Portal, banks can unify data across multiple, product-specific portals and back-office systems to create a single view of transactions, positions and balances, enabling self-service and driving operational efficiency. The data is presented via persona-based dashboards, with insightful widgets and the ability for users to tailor their experience.
“The user journey for corporate banking customers can be inefficient and complex, with customers often having to access different portals for different banking products, even within the same bank,” said Manish Joshi, managing director, MAAP, Finastra. “Through collaboration and co-innovation with Kotak, we have built a unique offering that will help it gain a competitive edge in the corporate banking segment and we look forward to helping the bank to grow further in the future.”