Finmechanics and Andile Solutions to help African banks leapfrog through technology

SINGAPORE and JOHANNESBURG, July 9, 2019 /PRNewswire/ -- Finmechanics, the Singapore-headquartered provider of the new generation platform for banks' treasury and risk management, FM Converge, and Andile Solutions, leading provider of IT solutions and services in South Africa and across the region, today announced that they will jointly deliver a derivatives solution based on FM Converge to a large regional bank keen to enhance their pricing, analytics and risk management.

This is a first step in Sub-Saharan Africa for Finmechanics, who recently opened branches in Dubai, Sydney, London and Amsterdam. "We are thrilled to provide the African continent with the highest standards of precision, agility and control in Pricing and Risk management," said Anindya Sarkar, CEO of Finmechanics. "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," he added.

Finmechanics and Andile earlier entered a Co-determination Agreement, by which the partners agreed to jointly build turnkey solutions designed for the African continent, 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," said Andries Brink, CEO of Andile Solutions. "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," said Brink.

To learn more about Andile products and services for the financial industry, please visit https://www.andile.net

To learn more about Finmechanics technology, integration and advisory services, please visit https://www.finmechanics.com.

About Finmechanics

Headquartered in Singapore with offices in 6 countries and clients around the world, Finmechanics is a challenger provider of systems for trading, treasury, processing, risk management and regulatory compliance. The Finmechanics Microservices inspired approach help firms to simplify and transform their organisation, defining new standards of agility and cost efficiency and be fully cloud ready. Finmechanics also provides Artificial Intelligence to leading banks.

About Andile Solutions

Headquartered in Rosebank, Johannesburg, Andile has clients in 7 African countries. Having had its roots in the Capital Markets Professional Services industry, Andile is progressing by offering innovative cloud technology platforms and related services to Challenger as well as regional banks on the continent.

Contact:
Philippe Carrel
philippe.carrel@finmechanics.com
+44-7517358123