·Offers better support for real-time faster payments
·Offers a range of supply chain finance instruments such as dynamic discounting
Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announces the launch of the latest version of its Transaction Banking Solution FinnAxia 6.5.
As the business world becomes more hyper-connected and supply chain ecosystems change rapidly, financial institutions are under increasing pressure to deliver real-time, integrated financial services across multiple channels, while also rapidly bringing new products to market, and swiftly taking advantage of opportunities as they arise. But, in addition to many benefits it brings, the dramatic rise in real-time, digital transactions has also made financial services more vulnerable to payments fraud and cyberattacks.
To counter the threat, it has become imperative for financial institutions to modernize their technology infrastructure to enhance security and resilience while also improving speed and efficiency.
Recognizing the growing challenges posed by digitization, the latest version Nucleus Software's comprehensive transaction banking solution FinnAxia introduces a revolutionary real-time AI-enabled anomaly detection capability, which enables financial institutions to detect fraudulent and duplicate transactions early and proactively act on them. In addition to supporting instant payments and providing sophisticated virtual account management, FinnAxia 6.5 is also SWIFT gpi-enabled allowing businesses to track the status of their transactions in real-time.
Hyper-connectivity has also increased corporates' dependency on their supply chain ecosystems, which frequently consists of large numbers of relatively small suppliers. Working capital finance can be difficult to obtain for these smaller suppliers, and its absence can impact the profitability of the corporates themselves.
FinnAxia 6.5 helps banks address the challenge by offering 4 corner, 3 corner and point supply chain finance models. Also a range of supply chain finance instruments such as dynamic discounting to their corporate customers thereby ensuring a more collaborative and productive ecosystem.
NEW DELHI, July 25, 2019
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