Finmechanics, Andile Solutions to offer IT services for African banks
JOHANNESBURG – Singapore-based Finmechanics and Andile Solutions, which provides IT solutions and services in South Africa and across the region said on Tuesday they would jointly deliver a derivatives solution to a large regional bank to enhance pricing, analytics and risk management.
This is a first step in sub-Saharan Africa for Finmechanics, a provider of systems for trading, treasury, processing, risk management and regulatory compliance.
"We are thrilled to provide the African continent with the highest standards of precision, agility and control in pricing and risk management," CEO Anindya Sarkar said.
"Our products will enable regional institutions to digitise their trading and processing activities and build robust foundations for growth, based on the most modern technology.
Finmechanics and Andile earlier entered a deal to jointly build turnkey solutions designed for Africa by combining the modern, microservice-based architecture of Finmechanics with Andile's deep knowledge of the local market and experience as a solution provider.
"We've found Finmechanics to be the platform of the future for trading, processing, valuations and risk management," Andile Solutions CEO Andries Brink said.
"Together with Andile's personalised service and integration capabilities, we will equip regional banks to leapfrog through technology, and tailor solutions to their very needs."