Enterprise at a Glance
January 13, 2009
Trade Finance Product Suite Helps Companies Manage Complete Supply Chain Process
BNY Mellon Enterprise Treasury Services has launched Global Trade Finance Solutions, a comprehensive, modular suite of supply chain process management products.
For banks looking to offer their business clients a method for streamlining their global trade operations without having to invest in the technology required to do so, or for those banks wanting to enhance their own back-office trade operations, the new product suite provides an online platform that offers complete, end-to-end management of transactional details, processing issues and critical information along each step of the supply chain process.
Global Trade Finance Solutions integrates all of the essential functionalities of both letter of credit and open account transactions into a single online platform. Users can process and manage the full scope of their global trade finance transactions electronically from any Internet location on a 24/7 basis.
The Trade Workstation screens and reports, as with all of our Trade front-end applications, can incorporate logos, colors and other branding elements for client banks wanting to private label the service for resale to their business clients.
Global Trade Finance Solutions enables users to:
- Initiate and transfer purchase orders;
- Review documents using scanned images of all underlying trade documentation;
- Obtain full purchase order/invoice data matching capabilities;
- Accomplish transaction communication and online approval;
- Transfer funds for settlement of these transactions;
- Employ payables discounting; and
- Access trade reporting.
"Technological leadership is key to our commitment to outperform for our trade finance clients, and this new offering reflects the high level of investment we continue to make in this important area," said Howard Bascom, head of Global Trade Finance Services.
For more information on how Global Trade Finance Solutions can help both your bank and your business clients streamline global trade operations, call your BNY Mellon Enterprise Relationship Officer.