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End-to-End Development of Trade Finance Portal for an Asian Bank, leading to improved efficiency of the trade cycle

End-to-End Development of Trade Finance Portal for an Asian Bank, leading to improved efficiency of the trade cycle

Customer

A multi-national Bank - having leadership position in trade finance arena.

Business Requirements

The bank wanted to re-invent itself in the area of trade processing and outgrow its traditional role of just being an intermediary. It aimed to become a trade facilitator and in the process, create for itself a niche market space by transcending customary banking vistas. There was an immediate need to create an end-to-end trade portal that would be highly secure, scalable and user-friendly to shorten trade cycle times, bring in higher process efficiency and reduce the cost and time involved.

HCL’s Solution

HCL was involved in the development of some of the core modules of Trade Finance portal, a secure online environment to conduct and manage end-to-end integrated trade finance and supply chain management activities entirely over the Internet. The application is an integrated supply chain and trade finance portal that provides the requisite capability to combine the key areas involved in the process of international trade.

The crowning glory of the offered system was its efficacy in integrating, automating and streamlining a multitude of common trade financing processes into a shared electronic environment. Customers were provided with the capability to exchange data with the various stakeholders in a more automated and controlled way irrespective of the underlying system types.

Key features developed by HCL include:

  • PO Grouping Service - Consolidates multiple purchase orders into a single L/C application
  • Trade Banking Services - Provides a gateway to an extensive range of online trade banking services
  • Management Information Reports - Tracks all the involved trade transactions and activities

The application has a highly re-usable architecture to take care of component based services and HCL implemented the concept of PLEX during design.

Business Benefits

  • The solution improves the efficiency of the trade cycle by automating routine tasks and improving the speed and accuracy of communication between a Bank and its trading partners
  • The application can interface with any existing back office or ERP system as well as any major EDI network to establish a seamless communication channel among various customer’s trading parties
  • The time required for transitioning existing customers of the Bank to this new platform was significantly less.at lower operating cost
  • 6600 concurrent users with an average response time of 2 sec

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