Leading Scheduled Commercial Bank in India Transforms Trade Finance Processes with Kyzer’s TradeZone
The India-based bank facilitates upto 10,000 monthly transactions with Kyzer’s trade finance automation software.
Kyzer TradeZone Profiler bridged the gap between bank and corporate clients to help provide comprehensive client profiles, real time transaction and credit limit based information.
Bank’s key goal was to ensure profiling information is available next to real time and ensuring processing team receives all information and thereby reducing chances of errors and check on nature of transactions against the information disclosed by corporates.
Key Challenges Faced by the Banks
- Errors and fraudulent transactions.
- Next to real time non availability of ready reckoner to know nature of business mismatches
- Compliance with AML guidelines whilst transaction processing.
Improving Business & Operational Efficiency with Kyzer TradeZone Profiler
- Business builds client profiler details covering every aspect of client business with appropriate verification approval
- Real-time data matching during transaction processing reduces errors & omission.
- Ready availability of One-time document speeds up processing with TAT and FTR.
- System ensures checks with validations. Guides the user in processing, ensuring corrective and appropriate steps.
Key Features of the Solution Provided
- Comprehensive client profiler details including demographics, topline, bottom line, top 5 customers, export / import / remittance volumes, etc.
- Information on sister companies, group companies and the nature of transactions possible as per articles.
- Real-time transaction limits
Other Benefits Achieved
- Ready availability of reports, one-time document, agreements along with complete transaction trails.
- Statutory requirements compliance and AML guidelines adhered during transaction processing.