LONDON, July 30, 2020 /PRNewswire/ — Finastra declared today that Individuals’s Bank, a retail and commercial bank at Uzbekistan, is deploying Fusion Risk. The technology will automate the bank’s risk management company, allowing it to be effective, whilst managing all kinds of risk such as credit, market, operational, liquidity and rate of interest. Finastra partners, neighborhood fintech FinExtra Group and IT solution developer Neoflex, are executing the execution, allowing the bank to fulfill local and global regulatory requirements.
Farkhod Salamov, Chairman of People’s Bank stated, “Finastra includes a closely integrated, best-in-suite product scope that is ideally suited to encouraging Individuals’s Bank’s risk management operations. It is significant that we’re able to deploy a solution that integrates easily using our current core banking platform, which is cheap, and scalable to grow with our demands later on. Having the ability to work with partners on the floor who understand local regulations proved to be a important element in selecting Fusion Risk. The tight cooperation between Finastra, the regional ourselves and partners will be crucial as we roll out the brand new performance across the bank within the forthcoming months.”
Fusion Risk is a totally automatic, end-to-end threat and compliance alternative that will make it possible for People’s Bank to handle its daily operations and supply it using strong analytics to deal with long-term tactical business planning. The solution will offer a single point of management, enhancing the consumer experience for its customers. The complete functionalities of Fusion Risk are anticipated to be executed as part of their conversion, such as asset and liability management of this bank (ALM), transfer-pricing calculation (FTP), and automation of different global regulatory requirements, like IFRS 9 and Basel II/III.
Wissam Khoury, SVP and General Manager APAC and MEA in Finastra stated, “Fusion Risk will make it possible for People’s Bank to remove the sophistication around its sources and regulatory compliance. Working together with the teams of specialists from Neoflex and FinExtra Group, that are experienced in executing complex data systems, means we can execute a global solution that’s tailored to the regional needs of Uzbekistan.”
FinExtra Group, a fintech established in Uzbekistan, is operating with Finastra and Individuals’s Bank to link Fusion Risk into the bank’s personal system. The answer’s built-in data extraction instrument will make it possible for data mapping between the 2 approaches in an efficient and precise manner.
Neoflex is accountable for ensuring that the solution meets the demands of this Central Bank. Neoflex lately obtained Finastra’s Ultimate Expert award, also Finastra’s greatest partner status for its execution also support of Fusion Risk in Europe, the Middle East, and Africa.
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Finastra is constructing an open platform which accelerates innovation and cooperation in financial services, making better experiences for individuals, communities and businesses. Founded from the broadest and deepest portfolio of financial services applications, Finastra provides this incredibly important technology to financial institutions of all sizes throughout the world, such as 90 of the planet’s leading 100 banks. Our open architecture strategy brings together several spouses and innovators. Collectively we’re leading the way in which programs are written, deployed and absorbed at fiscal services to evolve with the changing demands of consumers. Learn more in finastra.com
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Neoflex generates IT platforms for electronic business transformation, which help our clients develop a sustainable competitive edge in the digital age.
We concentrate on custom software development and implementation of advanced data systems utilizing сutting-edge technologies and contemporary methodologies.
Our business and technological experience, improved by our own applications accelerators, permit us to solve company tasks of any amount of sophistication. One of our clients are greater than half of their Russian’s best -100 banks, 11 bank of world’s best -100, in addition to businesses from 19 nations in Europe, Asia and Africa. Know more at www.neoflex.ru.
About FinExtra Group
FinExtra Group is a Uzbek fintech firm working to encourage banks’ digital transformation by localizing the very best bread of banking technology to the local sector. FinExtra Group is your initial fintech in Uzbekistan to supply and encourage new products by its reputable foreign partners in areas like risk management, treasury, trade finance and Islamic banking.
Learn more in www.finextragroup.com