Finastra and Kotak Partner to Create Business Banking Portal

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Finastraa provider of financial software applications and marketplaces, has partnered with Kotak Mahindra Bank to support its new integrated business banking portal, Kotak FYN.

India’s Kotak Bank and Finastra have been working together since last October to expand the Kotak FYN portal to businesses and businesses. Bank customers can use the new business portal to perform all business services.

By the end of the year, the Kotak FYN portal, which uses Finastra’s unified enterprise portal solution, will include other services, including account services, payments and collections. This eliminates the need for multiple logins and disparate user interfaces.

Shekhar Bhandari, President, Global Transaction Banking, Kotak Mahindra Bank, said, “Together with Finastra, the unified enterprise portal will allow us to make the Kotak FYN portal even more revolutionary. We can provide intuitive, easy-to-use access to many products and user journeys through a single platform, reducing complexity and friction for our customers and providing a truly differentiated user experience.

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With Finastra’s Unified Enterprise Portal, banks can unify data across multiple portals and product-specific back-office systems to create a single view of transactions, positions and balances, enabling self-service and improving operational efficiency. Data is presented through personalized dashboards, with insightful widgets and the ability for users to personalize their experience.

“The user journey for business banking customers can be inefficient and complex, with customers often having to access different portals for different banking products, even within the same bank,” said Manish Joshi, Managing Director, MAAP, Finastra. “Through collaboration and co-innovation with Kotak, we have built a unique offering that will help it gain a competitive edge in the business banking segment and we look forward to helping the bank grow further. in the future.”

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