As customer service becomes an increasingly important differentiator, trade finance operations are under pressure to improve service levels and to handle a growing range of products. Banks that rely on heavily manual and paper-based processes risk losing business to more agile competitors.
SmartStream TLM Trade Finance is a platform agnostic solution that enables banks to react efficiently to evolving customer needs. It delivers:
- Lower operational costs by automating traditionally manual, paper-based trade finance activities with workflow-based processes, electronic forms and documentation
- Reduced operational risk through automated data entry, significantly improving documentation quality
- Improved customer service by creating consistent and timely electronic documentation that enables staff to focus on building client relationships
- Scalability that enables banks to process higher transaction volumes without increasing their headcount
- Higher STP levels for letters of credit, collections and guarantee transactions, and related financing
- Stronger relationships with corporate customers by allowing them to be included in the end-to-end automation of documentation through TLM TradeConnect.