Currently, because it is costly to use trade finance systems, particularly in emerging countries, companies find it difficult to sell their products and get paid on regional or international markets.. However, digitalization can facilitate their global collaboration, allow them to get into trade finance, have access to decentralized finance and reduce their costs.
International trade is an opportunity for large companies, but small and medium-sized companies are struggling with high prices. When trying to sell their products and services in international markets, they struggle to find information about their customers and suppliers. They struggle to synchronize the constraints of compliance and payment.
Many documents are still physically sent using a courier and the cost of digital collaboration systems allowing scanning and examination of documents are prohibitive. Banks, financial institutions, companies are therefore losing customers, struggling to service import and export transactions.
Moreover, in a context of COVID-19, companies, large or small, have increased the opportunities to sell at any time, instantly and anywhere in the world.
Many banks today need the physical presence of their customer with their specialist, requiring a large number of specialized staff and wasted time examining numerous documents. Banks should be able to provide their clients with a digital channel for the delivery of trade finance transactions, including commercial letters of credit, standby letters of credit, amendment, invoices / negotiations, and collections. Small and medium-sized enterprises struggle to export their products and services to international markets.
Trade EnablerTM saves time by providing banks with the tools they need to manage the flow of transactions. The platform is scalable and with collaboration technologies allowing multiple parties to interact, track and manage trade finance transactions from start to finish in real time. The solution allows financial institutions to mitigate, reduce or eliminate the risks associated with international trade.
The platform offers a video connection which makes it possible to connect with customers constituting a tool for combating fraud in their international transactions.
Payment, synchronized with the KYC, is flexible with multi-factor authentication and multi-user authentication.
Otherwise, setting up an invoicing system can simplify the procedures for importing and exporting products and services. The invoicing system provides access to the import and export payment platform.
Invoicing process:
Letter of credit issuance:
Trade documents processing:
Transaction types
Features
