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Trade Finance Automation – Solution

Overview

Banks play a critical role in international trade by providing trade finances to its customers to reduce the risk of exporting. The magnitude and structure of this business handled by banks is of huge value and contributes its stake in over all banks day to day business. Issuing Finance to a trade process by a bank involves credit analysis and in-depth evaluation of documentation. This process many involve lot of approvals for LC processing, and need transparency for exception handling – back and forth. Trade between cross boundary entities is heavily government regulated and required to meet all mandatory compliance for smooth financial transactions.

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Business Challenges

  • Visibility and cash position
  • Security
  • Compliance
  • Turnaround time
  • Collaboration of multiple teams/ Banks for information exchange
  • Integration with related business processes
  • Multiple formats

Salzer Solution

Salzer Trade Finance Automation (TFA) solution is curved & designed for explicitly serving the needs of Banks and Financial Institutions. Our TFA solution is easy to deploy, user friendly, browser-based solution to fast and efficient processing of Import LCs/Guarantees, documents to be advised of export. Our solution facilitate banks to expedite the process of LCs and documentary presentations across all banks, geographies and between trading entities. It automates all standard processes such as Import, Export, Quotation, Negotiation, Remittances, and provides centralization of all the documents leading to timely decision making to improved customer service owing.
Our solution helps the banks to step up to competitive market standard and helps banks to operate processed manner to increase visibility, mitigate risk in operations.

Solution Benefits

  • Reduction in Turnaround Time due to electronic processing of documents
  • Reduction in logistics costs
  • Easy and timely Exception Handling
  • Easy archival and retrieval of the documents
  • Smooth flow of documents from one location or one department to another
  • Reduction of errors due to provision of checklists and monitoring tools
  • Tracking of the application
  • Centralization of the Credit Approval process, thus allowing applications from remote branches to be accepted
  • Overall gain in business due to enhanced customer satisfaction