Standby LC/Guarantee Receipt System manages the complete process of handling incoming standby LCs, bank guarantees, corporate guarantees and surety bonds. Enables electronic communication with banks.
Benefits For Corporates
- Real-time monitoring of total exposure to counterparties and banks
- Speeds up preparation of claims
- Automated and customizable alerts on key transaction dates and statuses
- Web-interface for communication with financial institutions
- Out of the box SWIFT MT 798 connectivity
Benefits for Financial Institutions
- SWIFT messaging for seamless integration with back-office systems
- Cost savings due to digital processing of transactions
- Improved efficiency in communication with corporate clients
- Ability to offer innovative trade services on top of a multi-bank trade finance platform
- Access to a targeted community to sell trade finance products and services