Fintech firm Finastra has partnered with e-commerce solutions provider Elcy to offer a centralised platform that links corporates with banks supplying their trade finance.

Corporates will be able to communicate with any Swift-enabled bank in the world, monitor counterparty exposure and manage global bank limits.

“All instructions or messages sent through the portal can be tailored to conform with the message type preferred by the bank in question,” says Elcy’s chief executive, Robin Cohen.

The corporate trade finance portal gives firms more control over their trade finance exposures and cash flow management, while removing the need to connect to multiple different proprietary systems, Finastra and Elcy say.

Cohen tells GTR that discussions have already begun with a number of corporates from Finastra’s existing portfolio of clients.

“We think this is where the growth exists for multibank solutions,” Cohen says, adding that the portal is a way for banks “to enhance their broader relationship with corporates”.

“Elcy brings a wealth of expertise in meeting the trade finance needs of corporates, while Finastra meets the end-to-end digitisation needs of banks focused on international trade and supply chain finance,” adds Jaime Lynn, vice-president, enterprise solutions at Finastra.

The portal is a cloud-based, multi-tenant software-as-a-service solution with centrally managed software upgrades.