JPMorgan Treasury Services has announced that its browser-based trade finance product, Trade Information Exchange (TIE) is now available to financial institutions.
JPMorgan says the system, which was previously only available to corporations, has been expanded to allow financial institutions, and in turn their clients, the ability to streamline and automate trade processes.
TIE enables users to view trade and funds flow information on a global scale. Clients have the ability to perform inquiries and obtain the status of their trade portfolio including letter of credit history and text, accounting information, works in process and other trade-related activities.
The company adds that financial institutions are now able to view trade information data in a variety of roles, including as an issuing bank, an advising bank, a remitting bank or a collecting bank.