Wells Fargo launches online trade finance tool

Wells Fargo launches online trade finance tool

Wells Fargo has launched Trade Finance Online (TFO), a new Web-based product that allows companies to use the Internet to convert their foreign and domestic accounts receivable into cash.

TFO, accessed via Wells Fargo's Commercial Electronic Office Solution, allows users to upload and check invoices for qualification against credit insurance and financing limits and then submit them for financing or purchase by the bank online.

The Web-based solution can also be used to reduce foreign credit risks and track outstanding accounts receivables and available credit with online reports.

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