Banco Interamericano de Finanzas (BanBif), based in Peru, has selected Finastra Trade Innovation and Corporate Channels as part of a major initiative to modernize its foreign trade operations.
The move is designed to replace manual processes and paperwork with a digital-first platform, providing the bank’s corporate clients with faster turnaround times for letters of credit, documentary collections, and international guarantees. By automating workflows, BanBif aims to improve transaction transparency, reliability, and accuracy across the entire trade lifecycle.
According to Marco Osorio, Foreign Trade Manager at BanBif, the implementation is a critical step in providing corporate clients with modern, secure platforms that meet the evolving needs of international trade. The automation will also free up bank staff to focus on high-value client support rather than administrative tasks.
Vinay Mendonca, VP Product Management at Finastra, noted that the increased visibility and streamlined workflows will help BanBif deliver a more responsive experience, supporting its clients' global growth.
The project is being implemented with local support from TCMpartners, ensuring that Finastra’s global technology is tailored to the specific regulatory and operational requirements of the Peruvian banking market. The partnership highlights a broader trend among Latin American banks to upgrade trade finance infrastructure to support the increasing volume and complexity of cross-border commerce.