Fonplata Selects Sopra Financing Platform for Efficient Loan Portfolio Management
NEW YORK, NEW YORK, UNITED STATES, July 6, 2023/EINPresswire.com/ -- Fonplata Development Bank, a leading regional multilateral financial institution, has chosen Sopra Banking Software1 and its Financing Platform to effectively manage its loan portfolio, with a particular focus on the new SOFR rate. The implementation of this robust and reliable solution was completed in under six months, thanks to the collaborative efforts and the adoption of an ADOPT approach.
The seamless implementation of the Sopra Financing Platform3 was made possible thanks to the cooperation between both teams involved and the strength of the software platform itself. Alfonso Fernández, Fonplata's Financial Advisor, echoed the words of Rafael Robles, VP Finance, who expressed satisfaction with the implementation process, stating, "The implementation of the Sopra Financing Platform was very smooth, thanks to dealing with an outstanding professional team on both sides and a very robust software platform."
Fabrice Durand, North America Director at Sopra Banking Software, emphasized the success of the project, stating, "Thanks to our existing partnership with MDBs and our pre-configured solution, we were able to serve Fonplata's requirements within a timeboxed approach. The constructive cooperation between both teams was a key success factor."
The implementation encompassed the migration of 100+ contracts, integration with feed to the general ledger, and the migration of contracts to the SOFR rate, among other essential components.
Sopra Banking Software’s solution, a fully cloud-based platform hosted in ASP mode, provides Fonplata with a secure and compliant framework. With its advanced security measures and comprehensive compliance features, Fonplata can confidently manage its loan portfolio and meet industry standards.
The successful collaboration between Fonplata and Sopra Banking Software sets a new benchmark for efficient loan portfolio management. By leveraging the strengths of the Sopra Financing Platform, Fonplata is well-equipped to navigate the evolving financial landscape with agility and precision.
About Sopra Banking Software
Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide. The rich variety of our solutions, the strength of our conviction and our passion for innovation enable us to support our clients daily and in their future projects, as well as in their goals regarding financial inclusion. Our customers, based in over 80 countries around the world, benefit every day from our technologies and software, as well as the expertise of our 5,000 employees.
Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services, and software development. With more than 50,000 employees, the Sopra Steria Group generated a turnover of €5,1 billion in 2022.
For more information, follow us on LinkedIn2 or visit www.soprabanking.com
About Fonplata
FONPLATA Development Bank is an evolving regional supranational financial institution founded in 1974 by its five member countries, namely Argentina, Bolivia, Brazil, Paraguay and Uruguay, which started its operations in 1977. FONPLATA is headquartered in Santa Cruz de la Sierra, Plurinational State of Bolivia and has offices in Asunción – Paraguay; Buenos Aires – Argentina; Brasilia – Brazil; and Montevideo – Uruguay.
FONPLATA caters to the development needs of its five member countries with sovereign guaranteed loans targeting several socio-economic sectors and also granting loans without the sovereign guarantee of the member country to subnational government entities. FONPLATA is financially strong as revealed by its credit risk ratings of A/A2 from Standard and Poor’s and Moody’s, respectively and backed by the following key financial indicators: a net loan portfolio of USD 1.7 billion, a debt to equity ratio of 73%, a Basle capital adequacy ratio of 51%, and 0% of non-performing loans. Total assets amount to US$ 2.4 billion and its equity to US$ 1.3 billion.
FONPLATA’s differentiates from larger development banks operating in the region due to is agility and its market niche, consisting of small to medium size projects that are catalytic to much larger development projects, coupled with its approach to provide financing that is complementary of much larger development projects financed by other multilaterals.
FONPLATA’s size is relatively small, which when coupled with its agility contributes to ensuring the lowest possible transaction costs to its five member countries.
Above all, FONPLATA has evolved to become a regional development bank characterized by its strong commitment and responsibility for social and environmental issues which guide and percolate through the development projects it promotes and finances.
For more information about FONPLATA Development Bank please click our web page: https://www.fonplata.org/en
Contact: Anton Golovchenko
Sopra Banking Software
+33 6 31 89 07 60
anton.golovchenko@soprabanking.com
1 https://www.soprabanking.com
2 https://www.linkedin.com/company/sopra-banking-software/
3 https://www.soprabanking.com/financing-platform/
