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ICS BANKS® Trade Finance
is a complete automated front-to-back trade finance solution,
which enables banks to automate the processing of all traditional
and sophisticated trade finance instruments, including Letters
of Credit (LC), Guarantees (LG), and Documentary Bills for
Collection (BC). The system fully supports a bank’s global and
regional transactions processing, thereby ensuring accessibility
and control to customers. Users of ICS BANKS® Trade Finance
enjoy high-volume processing capabilities while reducing
processing cost per transaction.
The ICS BANKS® Trade Finance system handles key
modular systems, including:
Business-based system
ICS BANKS® Trade Finance is a business-driven system which
enables its clients to receive state-of-the-art financial products
and services, which proclaims that for each stage of the trade
life cycle there is a correspondent business function.
The system is layered with comprehensive trade industry and
business functionality, and traditional trade finance instruments
such as LC, BC, and LG, providing multi-lingual and multicurrency functions. ICS BANKS® Trade Finance inherent
centralisation, thin-client and user-friendly system is a pioneer
in utilising the latest technology to best serve financial
institutions. The system is compliant with the latest industry
standards such as SWIFT, URC and UCP. In addition to its
embedded Service-Oriented-Architecture (SOA), the system
can also operate as a standalone system integrated with other
core systems, and any third party applications, and as part of
ICS BANKS® Core Banking, ICS BANKS® Credit Facilities & Risk
Groups, ICS BANKS® Internet Banking and the Business
Process Management solution, BANKS BPM®.
Customisable workflow management
ICS BANKS® Trade Finance has been designed with advanced
workflow to streamline the entire transaction lifecycle and the
overall trade finance operations efficiently. The system consists of
a customisable, efficient and productive workflow management
that automates the application handling, eliminating manual
and paper activities, in order tocomply with the bank’s
individual and specialised needs. ICS BANKS® advanced
workflow management facilities provide optimal
management controls and world-class customer service.
Reduce operating costs & increase profitability
ICS BANKS® Trade Finance is a Straight-Through-Processing (STP)
and cost-effective application; suitable for any financial
institution. The system automatically links the trade transaction
directly with the SWIFT message generation. It can automatically
read from incoming SWIFT messages and engage them to the
business process. This reduces the operating cost by the strong
integration with SWIFT messages. At the same time, the
system is designed to help the banks to process more
transactions and data in less time, thus increasing productivity
and efficiency. Unlike other systems that request multiple
entries to create one trade transaction, ICS BANKS® Trade
Finance provides automated account entries, automatic
creation of advices for all trade parties, and SWIFT messages
creations all at one entry.
Effective and timely reporting
ICS BANKS® Trade Finance increases productivity through
accurate and timely reporting. The system allows the bank or
the financial institution to schedule all LG, LC, BC
transactionsreports. Likewise, the user can request an online
report for immediate printing or during day-end batch. The
integrated reporting function makes it easier to managethe
complexity of the bank transactions with a quick and easy process.
Comprehensive support
ICS BANKS® Trade Finance provides comprehensive and fully
integrated support for multiple delivery channels. Our
delivery channels enable the bank to enhance relationships
with customers during the business process and ensure
customer acquisition, satisfaction & retention. This includes
mail, fax, e-mail, internet, mobile, or any other delivery
channels devices. Users of ICS BANKS® Trade Finance gain a
reputable, best-in-class customer support and service
provided by ICS BANKS® Internet Banking System, and build
real competitive edge.
ICS BANKS® Trade Finance is available for front-to-back office
users to review and process customers’ needs with 24/7
accessibility. In other words, it offers customers access to their
fully branded e-banking services to serve their trade
transactions at all times quickly and efficiently.
Real-time Credit Risk Management
ICS BANKS® Trade Finance delivers real-time automatic limit
validation through its credit risk management system. Credit
risk management is maintained on five levels (Group, Group
Detail, Customer Facility, Facility Details and Account) to
utilise and monitor facilities, line limits and group limits in real
time. Each of these levels can be in a different currency. Also,
ICS BANKS® Trade Finance facilitates the bank with automatic
update of the risk limit operated from various trade finance
functions, where the system provides the option of monitoring
the limits with other banks.
Guarantor and collaterals defaults are also maintained and
monitored for their used amounts, revision dates and revaluation
periods. Credit facility lines can report in groups that represent
countries, banks or any other entity, where each group has a
unique transaction process control.
Rapid implementation
For each bank and each country, there are specialised needs
and regulations, ICS BANKS® Trade Finance off-the-shelf
solution endorses these needs by easy and fast deployment of
the system, reducing time-to-value and delivering results quickly
for real-time business processing. ICS BANKS® deployment is
based on using specific tools and tested methodologies for
conducting gap analysis, and formulating a migration
roadmap for banks. Our approach uses global and standard
banking methodologies and practices, with emphases on
local requirements and regulations, whereas our support is
provided throughout the pre-and-post solution deployment
phases.
Competitive financing functions
ICS BANKS® Trade Finance provides user-friendly, parameterised
and fully featured solutions for banks and financial institutions.
The system offers sophisticated range of financing functions
to meet the importer and exporter’s needs – including Loan
against Trust Receipts (LTR), Shipping Guarantee, LCs
Refinancing, Interest calculation, repayment methods and
many more. The flexibility of ICS BANKS® Trade Finance can be
used to seamlessly service the financing requests of the
beneficiaries in minimal time needed to validate the requests.
Dynamic Advices
The process of requesting a new advice creation from any
traditional reporting tool would be costly, time consuming,
Labor intensive and may lead to expensive maintenance for
the bank. ICS BANKS® Dynamic Advices Builder, which is
integrated with ICS BANKS® Trade Finance, has great flexibility
that reduces the significant cost and time for banks and banks’
customers.The system enables the end user (bank) to design
and customise their own advice easily by using their
preferred web browser or familiar desktop tools gripping the
data needed from any ICS BANKS® system, such as ICS BANKS®
Core banking, Trade Finance, Investment and Treasury and
many more. Moreover, the bank can customise advices
according to their needs in an Easier and Faster way.
The system also produces advices in different file formats that
can be sent to multiple destinations.
Multi-lingual system
ICS BANKS® Trade Finance supports multi-lingual functions
where the user can enter inputs in a certain language while
outputs can be presented to other bank or customer in
different language - their used language. The system provides
innovative products and features that are beneficial to the
bank and its trade services, and can be configured to reflect
the bank’s trade operations.
Value-added services (VAS)
In order to remain competitive, ICS BANKS® Trade Finance
embraces various procedures according to the bank’s policy
such as revenue recognition, capture SWIFT data and creation
of SWIFT messages to enable seamless connectivity, ready
templates, mail letters, and fast processing. It offers supreme
fully branded e-banking services to keep pace with the agility
of the
financial sector and allow customers to monitor their accounts,
i.e. access the bank‘s website to perform any of the virtual
banking functions. All different types of charges and
commissions are fully parameterised, while automated
commission procedures act upon rules and conditional logic
of the bank.
ICS FINANCIAL SYSTEMS LTD
Copyright© 2013 by ICS Financial Systems Ltd.
All rights reserved. No Part of this document may be reproduced or
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in writing from ICS Financial Systems Ltd.