Finastra recently announced its partnership with DataGear, a leading service provider for banking and financial services in Egypt, to enable corporate banks to rationalize core operations, automate compliance and reduce costs.
DataGear will be offering its clients Finastra’s solutions; Fusion Corporate Channels and Fusion Trade Innovation, to aid the banks to strengthen their services and grow their business.
According to the Finastra reports, there is a situation of an increasingly competitive marketplace, which means it’s important that corporate banks can adapt quickly and are not held back by regulation, legacy technology, or working capital limitations.
Finastra claims that with its solutions, DataGear clients will benefit from a trade services platform that evolves with compliance, customer, and competitive demands, as well as next-generation portal technology to unify trade, supply chain finance, cash, lending, and transaction banking.
Ahmed Khalifa, Director, Partners & Ecosystem MEA at Finastra said, “With deep expertise in banking and financial services, DataGear has a strong presence and a large customer base in Egypt. At Finastra, we understand the importance of partnerships and collaborative ecosystems for facilitating growth.”
He further adds to his statement: “Our partnership will help the company further strengthen its market position while giving its customers access to our flagship solutions through a local vendor. We\’re pleased to collaborate with DataGear and look forward to our mutual success.”
Ahmed Elsonbaty, Chief Executive Officer at DataGear said, “The demands of our large customer base are constantly changing. We recognized a need to expand our portfolio, to help corporate banks upgrade their offering with a suite of digital services.”
Ahmed further adds that “Finastra’s strong partnership and enablement program, as well as its industry-leading solutions, give us the tools to support our customers on this journey. With the partnership, we can also continue our own growth and development in the market.”
