The Oasis Reporters
May 25, 2022
‘…partnership with Union Systems for a fully automated end-to-end platform is to help our trade clients achieve their business objectives’ – Stanley Amuchie
Fidelity Bank partners Union Systems to optimize trade finance operations
L-R Chuks Onyebuchi, Chief Executive Officer, Union Systems Limited and Stanley Amuchie, Executive Director, Chief Operations and Information Officer, Fidelity Bank Plc at the contract signing in Lagos Nigeria.
Africa’s leading Trade Finance Software Company, Union Systems Limited has announced that Fidelity bank Plc, a leading financial institution in Nigeria has chosen its KachasiTM Trade Finance Software and OptimusTM Corporate Portal, to automate its trade finance operations.
The bank’s decision seems geared towards revving its wider digital transformation strategy, which has in recent times, led to the launch of several innovative products such as PayGate Plus and Virtual Card Account.
The partnership with Union Systems Limited is part of the thrust to achieve the objective.
Following a thorough evaluation process that included Finastra Trade Innovation System and China Systems’ Eximbills, Fidelity bank chose Union Systems’ Kachasi Trade Finance Software and Optimus Corporate Portal to automate its trade finance operation.
Kachasi is the first indigenous trade finance software application that automates the entire lifecycle of international and domestic trade finance operations.
The Optimus portal provides a platform for customers to initiate and manage their trade transactions via either web or mobile from anywhere in the world.
Commenting on the partnership with Union Systems Limited, Executive Director, Chief Operations and Information Officer, Fidelity Bank Plc, Mr. Stanley Amuchie, stated that, “We are delighted to partner with Union Systems in providing a fully automated end-to-end platform to help our trade clients achieve their business objectives. Leveraging this platform, we hope to further improve the experience for our customers and drive efficiency in their trade-related transactions. The launch of the automated trade platform is in line with the Bank’s strategy of becoming a foremost financial institution in trade financing in Nigeria and across Africa”.
Also commenting on the partnership, Chief Executive Officer, Union Systems Limited Chuks Onyebuchi said, “We are pleased to be able to assist Fidelity Bank with this automation project, which will allow the bank to provide an innovative and seamless trade finance experience to its corporate clients. This partnership is highly commendable, and we are honored to be chosen by the bank as its preferred Trade Solution partner”.
Union Systems Limited (USL) is Africa’s leading trade finance software company. For over 20 years, the company has been delivering future thinking trade finance software solutions to banks and corporates in Africa to achieve full automation and digitization of their trade operations. Our trade finance software solutions deliver growth, profitability, and regulatory compliance to banks and corporate entities. Union Systems has been named Trade Finance Software Solutions Provider of the Year at the BusinessDay Bank’s and Other Financial Institutions (BAFI) Awards for the second year in a row, in recognition of its innovation and excellence.
Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.