Finastra

Financial technology firm Finastra has reached a $3.13 million settlement in a lawsuit over a data breach, agreeing to compensate affected customers. The deal, subject to court approval, resolves claims tied to the company's handling of sensitive customer data. Privacy advocates are citing the case as another example of mounting legal and financial consequences for financial firms that suffer security failures.

Finastra has introduced SCF, a software solution designed to help banks deliver supply chain finance faster. The product is aimed at streamlining how financial institutions offer financing to businesses across their supply chains, reducing processing times and operational friction. Details on pricing, launch partners and customer adoption were not included in the initial announcement.

Financial technology firm Finastra has announced the launch of an AI-powered supply chain finance solution aimed at helping banks grow their working capital offerings. The product is designed to let lenders automate and scale supply chain finance services for corporate clients. News of the launch is circulating across financial technology trade coverage, with attention focused on how banks may adopt artificial intelligence to expand working capital business.