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The dynamics of global trade are changing every day. Banks are increasingly focusing 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 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.
Datamatics' Trade Finance solution is powered by IBM Cloud Pak for Business Automation (CP4BA) and engages cutting edge technologies, such as Intelligent Data Capture (IDP), Artificial Intelligence / Machine Learning (AI/ML), Robotic Process Automation (RPA), and Automated Decision Management Workflow. The solution thereby provides a fully automated, paperless, and electronically driven workflow environment.
Reduction in processing time
Increase in data entry speed
Reduction in missing documents
Reduction in to-and-fro interactions between branch and head office
Accuracy with no manual intervention
Reduction in rejections with dedupe checks
Compliance through solution audits
Straight Through Processing (STP)
On-cloud or on-premise deployment as per business requirement
Smart load-balancing, priority-based task sorting and quick-view of potential defaulters
AI / ML enabled task sorting based on priority, amount, and type of transaction
Quick view of transactions that are about to breach policy
AI / ML enabled
real-time transaction screening
Real-time screening, secure processing, and anti-money laundering (AML) monitoring
Integration with systems such as FIRCO, SafeWatch, etc.
Global and branch level performance tracking for identifying bottlenecks
Electronic status updates to customers, partners, banks, agencies and internal departments
Headless system integrations
AI/ML enabled document classification and data capture
Robust automated document scrutiny and decision management with in-built international trade finance rules, such as UCP600, ISBP745, and document consistency checks
Seamless integration with core banking / trade systems, AML applications, treasury systems, corporate trade portals, etc., ensuring faster roll-out
Vessels, shipment, and airway bills using RPA integrations that eliminate repeated logging into multiple third party systems, both legacy and contemporary, for data retrieval