BanBif taps Finastra to modernise trade finance operations in Peru

Peru-based Banco Interamericano de Finanzas has selected Finastra’s Trade Innovation and Corporate Channels platforms to modernise its foreign trade operations and improve digital services for corporate clients.

The project will support BanBif’s processing of letters of credit, documentary collections and international guarantees, with the bank aiming to reduce manual work, improve visibility and speed up transaction handling for businesses engaged in international trade.

The move is relevant because trade finance remains operationally complex for many banks in Latin America. Documentary trade products still depend on fragmented workflows, manual checks and communication gaps between banks and corporate clients.

BanBif said the new platforms will help make trade finance operations more reliable across the transaction lifecycle, while strengthening reporting, transaction monitoring and process connectivity.

Marco Osorio, Foreign Trade Manager at BanBif, said the implementation forms part of the bank’s effort to strengthen its capabilities in foreign trade operations and provide corporate clients with modern, secure platforms aligned with the needs of international trade.

For Finastra, the mandate extends the use of its trade finance technology in Latin America and follows a series of recent bank infrastructure wins across payments and trade.

The project is also being delivered with local support from TCMpartners, Finastra’s integration partner for foreign trade solutions in Peru. TCMpartners said its role is to align Finastra’s global capabilities with BanBif’s processes and support an efficient and secure implementation.

For BanBif’s corporate clients, the immediate benefit should be faster handling of trade finance instruments and clearer communication during the transaction process.

For the wider market, the deal reinforces a familiar trend: banks are investing in trade finance modernisation not only to improve internal efficiency, but to make traditional documentary products more usable for companies managing cross-border growth.