Trade Finance

Overview

 

The dynamics of global trade are changing every day. Banks are increasingly focussing on scaling-up their trade finance operations and improving their presence in the financial supply chain. Standalone manual systems hinder seamless operations and also pose risks related to compliance and control. In addition, in an extensively paper-driven environment, strict banking regulations mandate continuous manual monitoring and intervention at different stages.

Datamatics’ Trade Finance Solution is a business accelerator, which can be hosted on-cloud as well as on-premises. It automates the entire trade lifecycle and seamlessly integrates with the client’s core trade finance and banking systems. The solution is powered by IBM Business Automation Workflow and provides a fully automated, paperless, and electronically driven workflow environment. It caters to all kinds of transactions in the Trade Finance domain, namely:

  • Letter of credit (Import & Export)
  • Guarantees (Inward & Outward)
  • Loans
  • Collections (Import & Export)
  • Shipping guarantee
  • Reimbursement

 

The benefits we have delivered to our customers

  • 33% increase in processing time (TAT)
  • 40% increase in data entry speed
  • 65% reduction in to-and-fro interactions between branch and head office
  • 65% reduction in missing documents

 

Datamatics Advantage

  • Smart Inbox: Smart load-balancing, priority-based task sorting, quick-view of potential defaulters
  • Cognitive Controls: Real-time screening, secure processing, and Anti Money Laundering (AML) monitoring
  • Automated Diagnostics: Global and branch level performance tracking for identifying bottlenecks
  • Seamless Collaboration: Electronic status updates to customers/partners, banks, agencies, internal departments

 

Trade Finance Offerings

  • Smart UI:
    • Smart inbox with auto indicators
    • Promotes VIP tasks
    • Notifies SLA breach
    • Detects  inactivity
  • Banking System Integration:
    • Core trade finance solution
    • Core banking solution
    • Swift
    • Firco
    • Safewatch
    • Bank’s black list
  • Automated decisions:
    • Auto Compliance
    • Auto Field Validations
    • Auto Document Classification
  • Workflows in all major trade products:
    • Letter of Credit
    • Collections
    • Shipping Guarantee
    • Guarantees
    • Loans
  • Multiple transaction initiation modes
    • Form based
    • Email
    • Mobile
    • External triggers
  • Covers all roles at branch  & back office
    • Branch office (Maker/ Checker)
    • Scan operator
    • Approvers (Maker/ Checker)
    • Document Examiner (Maker/ Checker)
    • Record  Keeper (Archive physical documents)
    • Dispatcher
 

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