Kotak Mahindra Bank has partnered with Finastra, a London-based financial software company, to support its new integrated corporate banking portal.
The parties have been working together since October 2021 to expand the Kotak FYN portal for business and corporate customers. By the last quarter of 2022, the Mumbai-based lender's portal will include many services, including account services, payments and collections, thus eliminating the need for multiple logins and disparate user interfaces.
The portal harnesses Finastra’s Corporate Channels framework, which allows banks to build a seamless experience for their corporate clients spanning account services, payments, trade, supply chain finance and lending.
Banks can unify data across multiple, product-specific portals and back-office systems to create a single view of transactions, positions and balances, enabling self-service and driving operational efficiency, Finastra says.