App Hub / Banking & Finance / Trade Finance Digitalization App

Trade Finance Digitalization App

Reduce cycle times and accelerate trade finance transactions between banks and corporates, enhancing efficiency with real-time collaboration and verifiable, tamper-proof transaction records.

Overview

Trade finance relies on specific instruments that banks/financial institutions use when working with corporates, to ensure uninterrupted international transactions. However, banks can struggle with outdated, siloed systems and manual processes, leading to inefficiencies.

Advanced digital technologies, such as blockchain, AI, and machine learning, can address these challenges by:

Improving collaboration between internal business/operations functions of banks and corporates, reducing reliance on email communication.
Minimizing email exchanges, delayed response times, and version control/compliance issues.
Replacing manual paper-based submissions and email-based interactions with digital solutions, reducing cycle times and tracking difficulties.
Offering more digital and innovative solutions to corporations with global operations to optimize working capital and consolidate commercial operations.
Providing a single platform to track payments, receivables, and liquidity, enabling banks to offer enhanced flexibility to corporate clients.

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We can create a custom, block-chain-driven app to solve your unique supply chain orchestration challenges in as little as 6-weeks.

App Features

Enforce effective, risk-free contracts across the bank's team and the customer's team.

Simplify and improve trade finance connectivity between banks and corporate clients for a shorter cycle time and better customer experience.

Streamline trade finance processes involving multiple corporates in a digital network with focused operational insights.

Increase visibility and transparency across the digital network of customers to reduce turn-around times (TAT) and release working capital faster.

Maintain accurate data and digital document repository with auditability across the bank's and corporate's functional departments and ecosystem participants.

Generate real-time reports and secure tracking of trade finance verified documentations and negotiating documents as tamper-proof digital records for future use and compliance.

Provide secure real-time information on the status of trade finance with status flags to quickly triage operational issues and optimize shipping of finished goods in line with order promise date.

Embed banks into the flow of corporate business transactions to enhance collaboration, accountability, and visibility for trade finance processes involving multiple parties in multiple geographies and improve user efficiency.