The Bank of China (Hong Kong) has implemented software from UK-based SmartStream Technologies to automate its trade finance operations.
SmartStream says its TLM Trade Finance module has been integrated with 100 of the bank's core banking systems and will automate the processing of documentary payments including letters of credit, collections, guarantees, loans and financing/discounting. The vendor's TLM Trade Connect module will enable electronic communications relating to trade finance transactions between the bank and its corporate clients.
The vendor says the complex installation required the custom build of 50 real time interfaces along with 120 batch interfaces. The installation was assisted by SmartStream's local partner, Brilliance.
Peter Liu, CIO, Bank of China (Hong Kong), comments: "The introduction of real time trade finance processes will allow us to become a stronger business partner to our corporate customers and provide greater visibility into their transactions."