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TRADE FINANCE APPLICATIONS

Cross-border trade volumes expand, but banks’ trade finance revenues remain flat. Over the past 30 years, the value of international trade has consistently grown at twice the rate of the broader global economy. Traditional trade finance business, most of which is conducted through commercial letters of credit (L/Cs), has only grown at a modest pace. Although L/C volumes have recovered but corporates increasingly select cheaper alternatives.

Open account transactions are becoming the standard in international trade where goods are sold and shipped before payment is due, which is typically within 30, 60, or 90 days. To avoid disintermediation banks introduced a suite of products known as supply chain finance, such as receivables financing. Estimates show that these bank-assisted open account transactions will account for the bulk of trade finance revenue by 2020.

Commercial banks are redefining and transforming the traditional trade finance business. The leading trade finance banks are investing in technology and undergoing strategic organizational changes to gain a competitive edge in the transaction banking space. Looking forward, banks are experimenting with the convergence of traditional trade and supply chain finance to offer innovative and cost-effective trade solutions for corporate clients.

PROVIDER LANDSCAPE AND RANKINGS

Trade Finance Applications process letters of credit and other instruments that finance business' import and export activities. Key evaluation covers:

Mission Critical

  • Letters of Credit
  • Multi-Currency
  • User Interface (Front-End)
  • Systems Integration
  • Transaction Processing
  • Credit Risk Management
  • Product Maturity
  • Vendor Stability

Core Functionality

  • Factoring supported
  • Trade cycle support

Operational Support

  • Supports domestic workflow
  • Workflow support for global hub-and-spoke operations
  • Front Office
  • Pre-guarantee negotiation
  • Middle office
  • Customer transaction notifications
  • Back Office
  • Document Validation/Checking

Assets Supported

  • Collections
  • Forfaiting
  • Guarantees
  • Letters of credit (L/Cs)
  • Import Letters of credit (L/Cs)
  • Export Letters of credit (L/Cs)
  • Remittances
  • Stand alone finance
  • Standby L/Cs
  • Syndications
  • Clean payments
  • Discounting
  • Documentary Collections
  • Open Account Transactions
  • Bank Payment Obligations

Information

  • Audit Trail
  • Documents stored and linked

Integration

  • ICC Standards compliant
  • SWIFT Standards
  • Bolero
  • DTA