Ping An Securities deploys Finastra technology
20 September 2017 | 1743 views | 0
Ping An Securities has implemented FusionCapital from Finastra throughout its operations in Greater China.
The business, part of China’s Ping An Group, is now using the flexible Finastra platform to help extend its securities brokerage capabilities on a global scale - meaning it can boost revenues as it enters new markets.
“Legacy systems in China are built around existing domestic regulations and rules but they don’t have the capabilities to help us compete globally,” said Andy Han, Director of Development at Ping An Securities. “Our main goal in seeking an electronic trading platform partner was to find a provider that delivers the flexibility to trade across countries and the adaptability required by changing compliance rules. Finastra holds a strong reputation in handling the complexities of the toughest trading environments so they were the natural choice for us.”
FusionCapital offers Ping An Securities an efficient, stable and mature platform that supports the bank’s significant growth ambitions. The solution consolidates and streamlines internal workflows as well as digitalising all manual and non-digital processes to reduce front- and middle-office admin, improving trading processes, risk monitoring and compliance. The business can now compete on a global scale, quickly adapting to new market practices and regulatory demands while minimizing costs. FusionCapital integrates with the firm’s existing in-house development system and is well suited to meeting Ping An Securities’ complex trading, pricing, risk analysis and reporting needs.
“Advantages of working with Finastra include the agility of the software and the level of local support we’ve received in China that has resulted in a seamless experience,” continued Mr Han. “Finastra has over 100 consultants in China who have the expertise and service level to help us respond to market opportunities. In moving from our legacy systems provided by different vendors to a single solution with FusionCapital, we are well positioned for expansion in China and globally.”
“Banking systems in China are evolving at a rapid pace as they look to expand, not only domestically, but on a global stage,” said Nadeem Syed, CEO at Finastra. “FusionCapital provides Ping An Securities with an innovative and scalable platform to help support its charge to create more sophisticated services and an agile operating system to succeed internationally.”