FNA Insider: December Edition – FNA’s wraps up 2024
As 2024 comes to a close, we reflect on the milestones and achievements that defined the year for FNA and share our appreciation for your continued support, collaboration, and dedication to our shared mission of making the financial system safer and more efficient.
National Fraud Portals
Combatting the rise in consumer scams and fraud was a key priority for FNA in 2024 as we continued to develop our National Fraud Portal Solution to accelerate fraud recovery, detection and prevention.
This year marked a significant milestone as Malaysia launched its National Fraud Portal (NFP), developed by Bank Negara Malaysia and PayNet (Payments Network Malaysia) with FNA’ support. Since its launch, the NFP has reduced the time required to trace stolen funds through the payments network by 75% to just 30 minutes, increased the number of frozen accounts by 28% and improved fund-freezing rates from 0.5% to 30%, thanks to enhanced automation and real-time data sharing among financial institutions. We’re looking forward to expanding the solution further in 2025 and working with new jurisdictions to enhance their fraud detection and prevention capabilities.
Intelligent Liquidity Optimization
Over the past 5 years, we have taken our deep experience in optimizing liquidity in high-value payments (RTGS) systems and transformed our technology and algorithms to fit individual bank treasury needs. During 2024, FNA continued to build on our market-leading position in liquidity optimization, deepening our ILO technology, delivering 30% plus liquidity savings to multiple clients while substantially improving global liquidity visibility and payments flow control in BAU and stress. We have been particularly impactful in 2024 on USD.
FNA ILO was once again recognized by Global Banking & Finance Review as the Best Treasury Software Provider for the second year running and was also recently recognized by Gazet International as a Regional Pioneer in Liquidity Optimisation (Europe). These accolades underscore FNA’s contributions to our global bank Treasury clients, as well as the broader ecosystem of payments market infrastructures we serve.
Central Banks & FMIs
FNA continues to support central banks and regulatory bodies in enhancing their supervisory processes and reporting. Amongst other engagements and initiatives, since the beginning of the year, we have been working with the Central Bank of the UAE to deliver network analytics and simulation capabilities that will support its Enterprise Data Management Programme, as it aspires to adopt best-in-class digital solutions.
We have also expanded our partnership with Accenture and formalised the collaboration with SQL Power and Regnology to further empower financial authorities with their oversight capabilities. Finally, we continued to support training, capability development and thought leadership initiatives for the central banking and supervisory community and appreciate our long-standing relationships with colleagues from CEMLA, SEACEN, and the Cambridge SupTech Lab.
National Security
This year, FNA has provided substantial support to our DOD and Federal Law Enforcement clients, resulting in enhanced investigative support. This work builds upon prior efforts that resulted in a significant interdiction success story related to countering malign strategic competition efforts in the United States.
banking and supervisory community and appreciate our long-standing relationships with colleagues from CEMLA, SEACEN, and the Cambridge SupTech Lab.
Broadcasts
Our broadcast series has been an essential part of efforts to share knowledge and insights with the broader community. Once again, our series has continued to grow as we explore key topics, including Payment Systems Innovation, CBDC adoption, and fraud prevention, along with our expert guests. This year, we’ve reached 4,300 engaged viewers and welcomed 26 expert speakers to our sessions. If you’ve missed any sessions, we’ve expanded accessibility, making our broadcasts available on major podcast platforms so our insights can reach you whenever and wherever suits you best.
Making a Positive Impact:
Beyond our business achievements, we’re incredibly proud of our team’s efforts to give back. From taking part in the JP Morgan Corporate Challenge for the first time to initiating our ESG journey, we’re taking meaningful steps to build a more equitable and sustainable future.
FNA is proud to share that we have been recognized by EcoVadis with a Bronze Medal in December of ‘24, placing us in the top 35% of assessed companies. This achievement underscores our commitment to creating long-term value for our stakeholders and signifies a strong start for our inaugural ESG program.
As we look ahead to 2024, there’s much to be excited about – from expanding our footprint in the Middle East to our next in-person company-wide meet-up. We’re confident that together, we will continue to set new benchmarks for innovation, collaboration, and impact.
Thank you once again for being part of this incredible journey. Here’s to another year of success, growth, and making a difference together.
Warm Regards,
Kimmo Soramäki, Founder & CEO, FNA
