1.The Trade Finance solution developed by Fintra and in the process of enhancements has got the following major features:
a.Unitary banking – where transactions are processed and completed at each branch independently
b.Global banking – where transactions are processed in Hub and Spoke Model viz., branches are connected to a or few Central Processing Centres.As per latest trends, this model is mostly preferred by banks due to
i.Requirement for limited domain specialists
ii.Centralized operations which help manage statutory obligations effectively
iii.Reduction of resources
iv.Advantages of rolling out new products quickly
v.Cost effectiveness
c.External integrations – integration with External Credit Agencies, Courier Agencies and Statutory systems
d.Ability to integrate with Blockchain seamlessly
2.Fintra is also having a Factoring solution. Fintra has already bagged a contract for implementing this product in UAE at Dubai.
Marketing:
The marketing strategy of Fintra is as follows:
Model 1
Direct marketing of the product with various banks by way of giving Demo directly and exploring options as a start up.Being a Start up, this Model is not likely to gain much traction for the next one year.
Model 2
Marketing along with other Integrators.We would like to point out that the strength of Fintra does not lie in getting big deals in the beginning.Rather, our strength is the quality of our product. It is the quality and versatility of the product that sets us apart from the others in the Industry.Our USP lies in the following:
ØMeeting the niche requirements of the banks
ØAbility for quick TAT and helping clients change products suitably as per market demands and statutory guidelines
ØConfigurability of products even in respect of major areas such as Accounting Entries, SWIFT, GST implications without major change in coding
ØQuality, Speed and Efficiency of the company
ØAdvanced technology – our products are developed in most modern languages such as Node JS, Angular, Bootstrap etc. which require lesser time and effort in coding compared with the traditional languages such as JAVA, COBOL etc.
ØOur Technology will be leading for the next 10-20 years in the market.
