Digital Trade Finance is the ideal applicative solution for banks seeking to manage digitally all the events directly and indirectly connected to typical Trade Finance operations, in particular processing of Documentary Credits, Documentary Collections, International Guarantees, Export Advances/Import Financing.
The phases managed by the solution range from precontractual analysis (e.g. evaluations and consultancy on Import/Export Documentary Credit issuing and International Guarantees) to pre-analysis, analysis and reconciliation of documents in use/under examination and settlement of transactions.
The solution is managed through a high performance application back-end with an applicative interface able to create a totally digital dossier comprising all the typical elements necessary to carry out the operations.
A series of automatic processes associates with the dossier and stores:
- draft contract
- series 7xx and 4xx SWIFT messages
- emails and related attachments exchanged among the various parties (inside and/or outside the organization)
- documents in “use” created digitally or scanned/digitized
- remittance letters, accounting entries and payment orders
According to the bank’s technical-organizational requirements, the solution also enables the creation directly from the application of the above listed items, thus greatly simplifying the processing.
The various processes are guided by dedicated workflows oriented towards teamwork and online assistance, configurable by the bank and created to share the various management experiences and techniques.
Each process is appropriately recorded in a specific operational log. Export data functions on distributed computing files (e.g. XLS) permit ex-post analysis of the processes carried out.
Digital Trade Finance simplifies the management of information and documents, allowing the user to dedicate the time saved on low value-added tasks to more complex activities with higher added value (e.g. document and contract reconciliation, specialist consultancy to support the internationalization of businesses).
From a technological viewpoint, the solution can integrate OCR/AI processes to assist in analysis of documents and of the information they contain and/or present in external archives (definition of control rules, checks on lists for national and international regulatory compliance).
- totally digital management of the Trade Finance dossier
- reduction of processing times
- shared work/sharing expertise and know-how
- reduction of operating risks
- more streamlined and rapid procedures
- simple, rapid and well-structured dialog system with control of all counterparts (inside and outside the organization)