Finastra wins Banco de Costa Rica contract
Finastra, a global provider of financial services software applications, and TCMpartners, a leading consulting firm in digital transformation within the financial services industry, today announced that Banco de Costa Rica (BCR) has signed a strategic agreement to launch its International Trade Automation Project.
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The project is powered by Finastra's Payments To Go and Trade Innovation solutions and facilitated by TCMpartners.
The two solutions will enhance foreign trade and international payments practices, driving innovation and operational excellence. Additionally, the project will fully automate BCR's international transaction processes, providing greater speed, security, and traceability in cross-border payments. The capabilities of Finastra's solutions align closely with BCR's strategic objectives, which aim to offer world-class multi-channel financial services and position the bank at the forefront of technological advancement.
The project also modernizes and automates BCR's payments services, directly benefiting Costa Ricans and customers abroad. Through the Payments To Go payment hub, incoming and outgoing international transfers will be streamlined, improving efficiency and ensuring compliance with the ISO 20022 standard.
Additionally, the new implementation of Finastra's Trade Innovation system will facilitate international trade operations between exporters and importers, boosting Costa Rica's economic growth. Importantly, integrating these business processes into the bank's digital channels will allow users to make international transfers 24/7, enhancing the customer experience and promoting financial inclusion.
"In partnering with Banco de Costa Rica and TCMpartners, we are excited to contribute to the growth of the financial sector in Latin America," said Cris Melloni, Director of Sales, Americas at Finastra. "This project exemplifies our commitment to serving our customers, providing innovative solutions that enhance operational efficiency and the user experience. We believe that through technology and collaboration, we can drive significant progress in the region."
With the launch scheduled for next year, the international transaction automation project will mark an important milestone in BCR's digital transformation efforts, offering its customers a more agile and efficient experience.
"Innovation and organizational transformation go hand in hand, as both require a mindset open to change and a focus on learning and continuous improvement. At BCR, we are proud and pleased to innovate with this new international transfer platform. Our goal is to offer an agile, safe and 24/7 experience for clients, for which we are working hard hand in hand with Finastra,' said Julio César Trejos Delgado, Gerente General a.i. at BCR.
"We are proud to collaborate with Banco de Costa Rica on this strategic initiative, aimed at providing its customers with a unique experience that allows them to receive additional services and reduce response times. This project will position Banco de Costa Rica at the forefront of technological innovation in Latin America," said Rafael Sainz, CEO of TCMpartners.
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