The Trade suite is designed as a set of components that using the modular and integrated architecture of Platform, can easily satisfy the Banks’ requirements in Trade Finance area, ensuring the full functional coverage.

It is composed by several Modules, including: Documentary Credits, Collections, Payments, Paper Free, functions for Swift Messaging management.

 

Documentary Credit

The Documentary Credit module, automatically controls most of the “Trade” department of the bank.

It manages Letters of Credit, the creation of SWIFT Messages 7xx series, the related General Ledger entries, Risk and Signaling to central bank

Some of the functionalities available are:

  • Letters of Credit In/out
  • Documents Check on Letters of Credit
  • Management of Noncompliance Letter of Credit
  • Settlement of Letter of Credit
  • Credit Closure of Expired Letter of Credit
  • Capture and Management of Incoming SWIFT Messages 7xx series
  • Production of Outgoing SWIFT Messages 7xx series
  • Storing of Letter of Credit Facsimiles
  • Management of Documents
  • Documentary Credit intermediation

 

 

Collections

Unlike the Letters of Credit, for a Documentary Collection the bank acts as a channel for the documents but does not issue any payment covenants (does not guarantee payment).

By this module, when the bank receives a documentary collection, it may debit the buyer’s account and make payment (only if authorised by the buyer).

Some of the functionalities available are:

  • Documentary Confirm Import/Export
  • Loading of Documentary Import/Export
  • Payment of Documentary Import/Export
  • Pick up from other Bank
  • Payment Remittance Bank – Bank
  • Management of messages 4xx

 

 

Guarantees

The module allows the management of the guarantees given by a Bank on behalf of the Applicant and in favour of the Beneficiary.   If the Applicant fails to fulfill his obligations either Financial or Performance as per the agreement made between the Applicant and the Beneficiary,  then the Guarantor Bank on behalf of the Applicant will make payment of the guarantee amount to the Beneficiary upon receipt of a demand or claim from the Beneficiary.

Some of the functionalities available are:

  • Issuance/update/redemption of Guarantee
  • Registration/ update/redemption of received Guarantee
  • Management of Swift Messages 76x series
  • Risk Management
  • Guarantees with bank counterpart

 

Paper free 

The module allows the dematerialization and storing of Documents received by the Bank. Via the management of “Electronic Documents Archive”, the operator can control, view and print at any time, any documents stored.

It allows to archive Documents for over 20 years eliminating paper copies.  Through a Workflow process, it is possible to specify the most important tasks and the relationships between documents, preventing to move to the next activity if the previous is not completed.