Finastra lowers the barrier for regional banks to use trade finance technology

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Finastra has launched the cloud-based solution Finastra StandbyX to help U.S. banks digitize and automate standby letter of credit (SBLC) processes without deploying a full trade finance platform. The product is aimed at regional and mid-sized banks and can be implemented quickly via the cloud, helping banks with low to medium transaction volumes realize value sooner.