Las Vegas – October 19, 2026 -- Finastra launched StandbyX at Money 20/20, a cloud-enabled product that lets U.S. banks digitize standby letter of credit (SBLC) processing without deploying a full trade finance platform.
StandbyX targets regional and mid-sized banks still running manual SBLC workflows
Larger institutions typically handle SBLCs alongside broader trade finance operations on platforms such as Finastra's Trade Innovation. Many regional and mid-sized U.S. banks still rely on manual or semi-manual processes, which Finastra says create operational inefficiencies, increase risk and limit scalability.
SaaS model cuts integration and testing effort for low-to-moderate volume banks
StandbyX is purpose-built for SBLCs and delivered as SaaS. Finastra says the design minimizes integration requirements and testing effort, supports rapid implementation and carries a competitive total cost of ownership. The model targets banks with low to moderate transaction volumes.
Product draws on the SBLC module used by more than 150 banks globally
StandbyX runs on the SBLC module of Trade Innovation, which Finastra says is trusted by more than 150 banks worldwide. Trade Innovation automates workflows, manages risk and improves operational efficiency for financial institutions.
Vinay Mendonca, Head of Trade and Supply Chain Finance and Corporate Channels at Finastra, said that "many U.S. banks have traditionally managed standby letters of credit through manual processes or workarounds." He noted that transaction volumes may be relatively low while the value of the instruments is often significant, which makes risk management essential.
The launch is part of Finastra's investment in its trade solutions portfolio and its strategy of modular, cloud-enabled, API-first products. Finastra is exhibiting at Money 20/20 on stand 17079.