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Industry roundup: 1 February

Temenos launches cloud-native corporate lending platform

Temenos has announced it is launching an end-to-end corporate lending platform, designed to help banks digitally transform their entire corporate banking business to reduce cost and drive operational efficiencies, improve customer experiences, and create offers for customers that are tailored to individual corporate needs. 

The microservices-based platform aims to helps banks automate their heavily manual and complex processes and enables the bank’s corporate lending teams to access the right data at the right time to make faster and smarter decisions. The platform enables banks to evaluate loan applications, structure corporate deals and handle negotiations in a transparent and efficient manner. It also allows banks to assess credit risk to maximise the performance of their product portfolio and capital, as well as help corporate customers access the right credit facilities for their needs. The digital corporate lending platform also enables banks to manage lending for both corporates and SMEs, further streamlining systems and processes. 

The firm says that corporate banks often have complex IT architectures with data residing in multiple system silos, resulting in time consuming, heavily manual processes and poor data utilisation. Temenos’ end-to-end solution is designed to help banks streamline their disparate systems into a centralised platform with consolidated processes and pricing, embedded analytics and real-time dashboards, to offer fully automated digital services. 

Temenos’ enhanced corporate loan origination capabilities should help banks manage the entire loan lifecycle, from pre-screening to underwriting, due diligence, document capture, credit administration, acceptance and closing. This enables banks to aggregate and analyse the information they need to take decisions faster on complex corporate credit arrangements and process commercial loans with effective risk management. These corporate loan origination capabilities are based on Temenos Infinity, a digital banking platform that uses industry standard workflow management and business rules solutions to handle complex case management. 


Refinitiv adds cybersecurity and company credit risk ratings to due diligence reports

Refinitiv is further expanding the scope of its data-driven due diligence reports with the addition of cybersecurity and company credit risk ratings from BitSight and Creditsafe. The data partnerships follow Refinitiv’s recent inclusion of ESG data and its acquisition of The Red Flag Group.

The addition of cybersecurity and credit risk ratings is in response to myriad legal and regulatory obligations organisations face when dealing with third parties. Suppliers, distributors, resellers and other third parties may pose significant integrity and compliance risks and these need to be managed by every company to avoid significant fines and reputational damage.

In response to these challenges, Refinitiv has developed its data-driven approach to due diligence, providing customers with detailed insights and proprietary ratings on their suppliers and third parties to help ensure they are positively contributing to the organisation's reputation and business operations.

Compiled by a team of 450 analysts, the due diligence reports offer customers objective risk ratings according to six main categories of risk; identity, integrity, finance, ESG, cyber, and operational and quality risks. The reports are suitable for any sector or business size, and for any location in the world.

With the addition of cybersecurity and credit ratings, Refinitiv’s due diligence reports now draw on more than 200 billion cyber events monitored daily through 120 data sources, and more than 330 million company credit reports on both private and public companies collected from 9,000 sources.


Serai launches supply chain traceability solution for the apparel industry

Serai, a network-based digital B2B platform by HSBC, has launched a traceability solution to help apparel businesses track cotton and other raw materials going into their products. Businesses can use the solution to trace order flow throughout the supply chain, manage supply chain risks and collect data for compliance needs. 

“It is critical for suppliers, manufacturers and brands to show and trace the origins of their products," said Vivek Ramachandran, chief executive officer of Serai. "However, it can be difficult for businesses to have full visibility over their complex supply chains as much of this data is currently fragmented and managed manually. Serai makes it easy for businesses to access and unify complex supply chain information from multiple sources.” 

Businesses only need to integrate information sources once. Serai then enables them to share this with multiple parties over a secure platform. The solution is customisable, able to accommodate the needs of each company.

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