Abu Dhabi Commercial Bank (ADCB) has launched ProTrade, an online trade finance platform, allowing customers to manage their trade transactions online.
ADCB said that the new online trade finance platform, part of its EasyTrade suite of products and services, has been designed to enhance customers businesses with a no restriction system enabling importers and exporters to pay and get paid for the goods and services they buy and sell internationally.
The bank added that the new system offers clients quicker turnaround time and increased productivity by providing the opportunity to initiate transactions, as well as receiving notifications, from ADCB 24 hours a day seven days a week.
According to the ADCB, the ProTrade allows clients to completely manage online all their import and export letters of credit, bank guarantees and other trade finance services, receive information on status of transactions in real time or via email and ensure complete security of access through ProTrade using secure 32 bit encryption.
The new system, with series of templates for clients to use for standard transactions, allows clients to retain a library of data relating to previous transactions.
ADCB head of wholesale banking Colin Fraser said that with ProTrade clients access a dedicated channel which allows them to manage their trade business online and execute their transactions instantly.