Ping An Securities, a part of the financial and insurance company Ping An Group, has consolidated its legacy systems in Finastra's FusionCapital platform to improve trading processes, risk monitoring, and compliance.
Since FusionCapital could easily integrate with the company's existing in-house development system, Ping An Securities was able to streamline its internal workflows, as well as digitalise all manual and non-digital processes to reduce front- and middle-office admin, said fintech company Finastra.
With this move, Ping An Securities aims to extend its securities brokerage services beyond China, thus boosting revenue.
"Legacy systems in China are built around existing domestic regulations and rules but they don't have the capabilities to help us compete globally," said Andy Han, director of Development at Ping An Securities.
"Our main goal in seeking an electronic trading platform partner was to find a provider that delivers the flexibility to trade across countries and the adaptability required by changing compliance rules...In moving from our legacy systems provided by different vendors to a single solution with FusionCapital, we are well positioned for expansion in China and globally," he added.
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