Challenges with Current Trade Finance Solutions
The greatest challenge in trade finance is the significant operational cost and risk involved in the paper-intensive transactions. Efforts to digitalise highly manual solutions started decades ago, and there have been attempts by both industry players and banks to deliver new solutions to digitalise various parts of the trade finance value chain.
The Digital Journey in Trade Finance
TradeZone is an End-to-End Trade Finance request tracking software. The objective of building this workflow based process software was to help the banks in effective tracking of trade requests, minimize revenue leaks by having effective de-dupe checks, eliminate paper, and return ROI to the bank in less than a year.
The product has grown over the period of 4+ years and its capability has been enhanced by integrating the application with various systems within / outside the bank.
- Snapshot view of the customer accounts, commission charges, currency rates..
- Complete View of Trade Finance business across all channels.
- Improvement in Trade Margins.
- Centralized & De-centralized Operations.
- Improved Audit & Compliance.
- Enhanced Revenues.
- Service Leadership in Trade Finance process.
TradeZone is completely customizable to Bank’s need to accommodate and improve their decision making process as per their requirements.
- Ensures electronic movement of cases in a paperless workflow environment.
- The User Interface provides for effective information sharing on need-to-know basis.
- Overall the product is fit for banks who would like to manage / monitor their trade transactions on a single dashboard and have the solution customized / configured as per their banking process.
Workflows for trade origination, Document Examination/Compliance ,Product Lifecycle & STP.
- Complete Configuration of Bank’s Approval and Deviation Hierarchy.
- Chain based approval as per Bank’s SOP
- AML/Blacklist Country Check through Integration
- Integration with IDPMS / EDPMS data
- Regulatory & Customized MIS report generation
- Offers Integrations with Net-Banking and Mobile Banking
- API’s from the product support Open Bank API
- Integrations with Trade-Finance Reporting Modules
- Capable to be Centralized Trade Portal of the Bank.
- Core Trade Solution
- Core Banking Solution
- SWIFT Software
- AML application and databases
- Trade-Finance Reporting Modules
- Customer Portal, Internet and Mobile Banking
- Other required integrations
Why Banks Choose Us
Ease of Launching New Trade Finance Products. Omni Channel Customer Interface.
24*7*365 Days availability. Mutli-Country, Multi-Time Zone & Multi-Currency Support.
Uncover and deliver on opportunities that build lasting value.
Centralized Processing for all Customer Requests. Remote branches can start accepting Trade requests. Ease of Accessibility to Trade Finance documentation & processes.
Domain Ready – Go To Market. Agility driven for Banks’ Product and Service Differentiation. Integrating – Leveraging existing investments.
Questions? We'll Assist You!
Whether you’re looking to discuss a potential partnership, kick off a new implementation, or learn more about Infor products, we’re here to assist.