Bank Systems & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Management Strategies

05:30 PM
Connect Directly
Twitter
LinkedIn
RSS
E-Mail
50%
50%

The Bank of New York Mellon Rolls Out Comprehensive Trade Finance Product Suite

The Bank of New York Mellon (New York), has released Global Trade Finance Solutions, a comprehensive, modular suite of supply chain process management products.

Tailored to the needs of both corporate and bank users, Global Trade Finance Solutions provides an online platform for complete, end-to-end management of transactional details, processing issues, and critical information along every step of the supply chain process. Key to the offering is Trade Workstation, a Web-based portal that integrates all of the essential functionalities of both letter of credit and open account transactions into a single on-line platform, enabling users to process and manage the full scope of their global trade finance transactions electronically from any Internet location on a 24/7 basis, says the bank.

Specific Global Trade Finance Solutions functionalities include purchase order transmission and initiation; document review using scanned images of all underlying trade documentation; transaction communication and on-line approval; funds transfer in settlement of these transactions; payables discounting; and trade reporting. Global Trade Finance Solutions is best suited to the needs of smaller banks that may be finding it difficult to make the investments required to keep pace with advances in trade finance-related technology.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.