Three leading banks in the Sultanate of Oman had implemented Finastra’s Trade Innovation platform over a decade ago. Since then, only essential system and functional updates were undertaken. However, over 40% of trade processes remained manual. Financing modules were not configured with Finastra Trade Innovation. Also few life cycles of products & mid office functions for exception approvals were manual in nature. These led to income leakage, frequent exception approvals, and cumbersome treasury reporting.

To address these challenges and improve automation, the banks engaged TXN Alliance to conduct a comprehensive system health check and develop a roadmap for enhanced adoption of the Trade Innovation platform.

Backed by over 100 years of combined experience, TXN’s senior consultants conducted an end-to-end assessment of the banks’ trade finance processes. Working closely with leadership, we defined future-state processes that offered tangible, measurable benefits. Our methodology included gap analysis, technical audits, stakeholder interactions, and development of a transformation roadmap with actionable recommendations.

The health check and transformation roadmap delivered significant strategic and operational benefits to the banks. Key outcomes included:

 SLAs and customer segmentation were embedded into BPM, enabling measurable, automated service delivery.

 New product ideas were introduced with clear ROI cases.

 

This engagement exemplifies how targeted diagnostics and actionable transformation roadmaps can reinvigorate legacy platforms. The success of these initiatives underscores the importance of continuous improvement in trade finance digitization.