Standby LC/Guarantee Issuance System manages credit facilities and guarantee issuance process across divisions, subsidiaries, head office and multiple financial institutions. Covers application, amendment, reduction and claim workflows. Supports issuance of standby letters of credit, bank guarantees, corporate guarantees and surety bonds.
Benefits for Corporates
- Configurable electronic approval workflow
- Real-time monitoring of utilization of credit facilities
- Accurate calculation of contingent liabilities
- Automated and customizable alerts on key transaction dates and statuses
- Automatic calculation of bank fees
- Web-interface for communication with financial institutions
- Out of the box SWIFT MT 798 connectivity
Benefits for Financial Institutions
- SWIFT messaging for seamless integration with back-office systems
- Cost savings due to digital processing of transactions
- Improved efficiency in communication with corporate clients
- Ability to offer innovative trade services on top of a multi-bank trade finance platform
- Access to a targeted community to sell trade finance products and services
