For decades, Trade Finance, particularly imports / exports trade activities, have been a great revenue earner with traditional products such as, LCs, Guarantees, Bills Processing etc. Involving extensive use of paper documents including, invoices / orders/ agreements/ checks/ bonds etc, and other traditional methodologies, Trade Finance has immense scope for leveraging new tools and technology to better manage risk and streamline business operations.
Birlasoft has been serving BFS (Banking & Financial Services) clients, having multi-channel, multi-currency, multi-country transactions, with various types of trade finance activities. We have resources dedicated to banking and financial services with expertise in domain areas such as, International Trade, Forex Operations, Global Payments and Credit Risk Management.
Client Challenges
Banking institutions are faced with numerous challenges in today’s tough economic climate. Some of these include:
- Leveraging technology driven products and services for Trade Finance activities, to attain a sustainable competitive advantage against global banks
- Successfully navigating through digital transactions, imaging, new payment solutions and an international network of payments, to offer new products and services that would reduce delays in processing and payments
- Prioritizing risk management and ensuring strict compliance with international trade regulatory requirements
What Birlasoft Provides
At Birlasoft, our expertise in technology areas revolves around technical personnel, who have significant experience in the implementation of global banking products, with specializations in Corporate and Trade Finance. Our core offerings include:
- Domain consulting for modelling /structuring of products around Trade Finance
- Development of customized modules for standalone modules or integrated modules
- Testing and implementation of Third Party Products
- Integration and interfacing with Core Banking Solutions
- Design and development of Customized Report for Decision Support Systems
- Compliance reporting for regulatory requirements like SOX/UCPDC/Forex Regulations/IFRS
Business Value
With Birlasoft's Trade Finance services, clients benefit from:
- A common platform across all assets & geographies
- Lowered cycle times that reduce cost as well as time-to-market for new products
- Improved visibility for better decision-making capabilities, thereby allowing quicker responses to market changes
- Adoption of scalable & flexible technology & architecture solutions based on reuse of existing assets and processes
- Implementation of customized trading platforms & applications that are flexible, whilst catering to every business requirement