Finastra Introduces Cloud-enabled Risk Management Solution for Community Banks

Finastra recently unveiled Finastra ALM IQ, a risk management solution available for banks from March 2023.

The unique Cloud-based balance sheet management tool “enables small and medium-sized banks to make confident decisions in shorter timeframes, making them more competitive against larger financial institutions.”

ALM IQ offers “a faster, deeper understanding of the balance sheet and exposure, offering banks a path to address multiple regulatory constraints.”

By shielding risk, the solution “helps banks make sound operational decisions, enabling these institutions to provide the needs of the communities they serve, including private individuals and small-medium enterprises.”

Deployed on the cloud with minimal customization and maintenance, ALM IQ is “scalable, enabling quick implementation and growth opportunities.”

Mehdi Bouasria, Product General Manager, Treasury & Capital Markets Business Unit at Finastra, said:

“Our new cloud-based ALM solution offers community banks a reduced total cost of ownership, quick deployment, and increased flexibility and scalability, allowing them to simplify the ALM process and better compete with the big banks. By removing barriers and simplifying risk management and compliance in the balance sheet, community banks can focus more of their valuable time on serving the needs of the communities they serve.”

Sid Dash, Chief Research Director at Chartis, said:

“Small and medium-sized financial institutions across the United States are consistently looking for the right tools to help them be competitive with the big banks. As regulatory constraints continue to tighten and banks seek ways to better manage operational risk, this is a good example of a tool that will help industry leaders to better manage their balance sheets and serve their communities.”

As covered, Finastra is “a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation,, in 2017.”

It serves institutions of all sizes, “providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service.”

Its pioneering approach and commitment “to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world’s top 100 banks.”

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