Finastra has recently unveiled Loan IQ for the Japan International Cooperation Agency (JICA), aiming to modernize JICA’s core system in support of financing private-sector investments.
This introduction signifies a pioneering move within Japan, with Finastra partnering with IBM Japan. The solution caters to JICA’s expanding requirement for scalable and adaptable lending tools that meet international standards.
Equipped with Loan IQ, the new platform enables robust management of international private sector loan transactions. It handles loans denominated in Japanese yen, USD, EUR, and other local currencies. This transition is expected to enhance operational efficiency, accuracy, and readiness for future growth in Private-Sector Investment Finance.
JICA functions as Japan’s primary agency for Official Development Assistance (ODA), providing long-term, concessional financing for infrastructure and social development projects abroad. As the need for private sector funding increases to address economic and social issues, JICA’s demand for a flexible platform that aligns with global standards is anticipated to grow.
Finastra’s Loan IQ offers lifecycle management from transaction setup and approval through disbursement, interest and fee calculation, and final repayment. This solution is widely used by commercial and development financial institutions worldwide.
Key benefits of the new system
The new system provides several notable advantages:
- Streamlined operations: a unified platform for loan lifecycle management simplifies processes and reduces manual work;
- Flexible product design: it supports various loan structures and adapts to changing market needs;
- Global standard compliance: it establishes a dependable and scalable core that conforms to international standards.
This implementation marks Finastra’s successful advancement in the Asia-Pacific region, further cementing its standing as a trusted partner for development finance institutions globally.
