Financial systems provider Finastra announces a collaboration with blockchain platform Fragmos Chain, allowing banks who use Finastra’s over-the-counter derivatives solution Summit to digitise their products.

“By digitalizing the confirmation process of all derivatives, automating all post-trade processes and arduous documentation, such as for the International Swaps and Derivatives Association (ISDA), and eliminating paper, we are helping banks to streamline their operations, trade efficiently and securely, and reduce their risks, capital and costs,” says Fragmos Chain CEO Daniel Ivanier in Finastra’s press release.

The integration is made through Finastra’s cloud platform for third-party plugins, FusionFabric.

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