Insight & Analysis

Press release: CQUR Bank selects Finastra to enhance its digital transaction banking offering for international corporate clients

Published: Nov 2023

2nd November 2023Finastra, a global provider of financial software applications and marketplaces, announces that CQUR Bank, an international corporate bank, has partnered with Finastra to deliver on its technology strategy. With the implementation of Finastra’s market-leading solutions, Trade Innovation and Corporate Channels, CQUR Bank will offer its corporate clients a new online banking portal for a seamless user experience, introduce new digital workflows and provide host-to-host integration solutions.

Press release news paper

“To truly meet the complex demands of our customers, we needed to upgrade our online banking solution to deliver greater connectivity, faster onboarding experiences and access to sophisticated trade finance services that accelerate growth,” said Justin Kenny, Chief Operating Officer at CQUR Bank. “We selected Finastra due to its market-leading solutions that enable us to introduce a comprehensive front-end open architecture to provide access to a variety of fintechs. By broadening our offering and streamlining existing processes, we will be able to create more service value and deepen the relationships with our clients.”

Hussam Alkokhon, Head of Trade Finance at CQUR Bank added, “Finastra is a market leader in trade services globally, which plays to our ambition of being the best trade finance provider in GCC, with the highest standards of risk mitigation and compliance.”

Corporate Channels is a digital banking platform that provides CQUR Bank with a single, intuitive portal to unify trade, cash, supply-chain finance, lending and treasury services for its corporate clients. Trade Innovation is an end-to-end solution for frictionless trade and supply chain finance. The trade services platform uses straight-through processing, digitisation and data analytics that will support the bank’s growth and its ability to evolve with new demands.

“CQUR Bank has extensive expertise in financial services and in empowering international trade,” said Kamal El Khoury, Managing Director, MENAT Lending at Finastra. “Corporate customers are increasingly demanding faster, digital and connected services from their bank that truly elevate how they manage their finances and pursue new avenues for growth. By delivering new services and improving the end-to-end customer experience, the bank can future-proof its business while continuing to enhance economic growth through trade and sustainable development.”

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