Dutch bank ABN Amro is opening its trade finance portal MaxTrad to businesses operating in India.
MaxTrad enables corporates to manage a wide range of trade activities with their trading partners online, from initiating letters of credit to data capture, delivery of purchase orders to document preparation, reinvoicing, foreign exchange and settlement.
Romesh Sobti, country representative for ABN Amro in India says: "Businesses operating in India have a huge opportunity for growth. ABN Amro's breadth of coverage, depth of industry knowledge and market leading technology can help them to make the most of that opportunity."
In a related initiative, the Dutch bank is extending its 'Channel Finance' service to small and medium Indian businesses. This provides clients with greater access to working capital, based on the risk profile of their supply chain.
Adds Sobti: "Other services to be launched in this area include export vendors financing, international factoring and credit insurance based trade solutions."