What`s more, the provider of lending and transaction banking solutions to the global financial services industry introduces Trade Finance portal.
According to a recent report, Fortune 500 companies incur more than USD 81 billion of unnecessary supply chain and working capital costs each year due to inefficiencies and lack of visibility in trade finance. Digitization has the potential to overhaul trade finance by enabling the convergence of physical, financial and document chains, providing visibility of the supply chain and automating key processes such as - document evaluations, due-diligence cheques and the generation of purchase orders and invoices.
FinnAxia 5.0 includes a newly launched Trade Finance Portal and which would help corporate customers with a single, global view of their trade finance business. This will reduce the risk of fraud and will also enable the bank to make faster and more efficient financing decisions. FinnAxia 5.0 also comes with cash management features for working capital optimization for the bank’s corporate customers. The solution also allows the corporates to define their own liquidity structures and visualize the prospective outcomes graphically.
The new release of FinnAxia comes with the International Transaction and External Position System (ITEPS) to achieve payments compliance in the Malaysian market and also offers India-based NPCI compliant Direct Debit Mandate functionalities via both physical and electronic forms.
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