Trade Finance

Improve compliance and efficiency by automating and centralizing standard trade processes.

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 Trade Finance Automation Software - Trade Finance

Trade Finance Automation Software


Automate and centralize standard trade finance processes, including export and import-related documentation, negotiation, quotation, and remittances. Ensure adherence to SLAs and regulatory requirements by implementing checklists, efficient tracking of credit documents, and internal controls. Furthermore, increase the scale of operations by extending trade finance services to even low-volume branches.

Trade Finance

Multi-channel Trade Process Initiation

  • Multi-channel transaction initiation via web portal, handheld device, or branch walk-in
  • Automatic retrieval and population of customer details from core banking system

Straight-through Processing

  • Elimination of manual case reviews with an automated rules engine
  • Direct posting of transactions into the core banking system

Loan Limit Availability Check

  • Limit availability checking to fetch and earmark limits, and push the limit utilization data for each transaction
  • Instant access to loan account numbers and repayment schedules
Trade Finance

Streamlined Online Operations

  • Centralized trade operations with online trade finance processing at a central hub
  • Improved liquidity with the release of cash otherwise stuck in a complex supply chain

Cost Reduction and Scalability

  • Centralized trade operations with online trade finance processing at a central hub
  • Improved liquidity with the release of cash otherwise stuck in a complex supply chain

Trade Process Monitoring and Reporting

  • Business activity monitoring to track loan requests, processes, and resource utilization, as well as to generate reports and user-specific dashboards
  • Master data management module to manage various masters

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Success Stories

Frequently Asked Questions

What are the offerings of Newgen's Trade Finance software?

Newgen software provides a complete unified solution for Trade Finance which includes end-to-end trade finance processing, supply chain finance, payments hub, and compliance.

What all products are covered in the Trade Finance solution being offered by Newgen?

The various products included in Newgen’s Trade Finance solution are:

Letter of credit | Standby letter of credit | Bank guarantee | Bills under the letter of credit | Bill under collection | Outward remittance| Inward remittance | Import and export financing and more.

Does Newgen offer OCR and data extraction technology in Trade Finance?

Yes, Newgen offers OCR technology for auto-updating of fields on the forms. Apart from the OCR technology, Newgen also offers classifying, extracting, and validation of documents using AI / ML-based models for identifying and populating discrepancies in line with UCP / ISBP / URC, etc.

Does Newgen’s Trade Finance Solution come with a front-end/customer web portal?

Yes, Newgen offers a customer web portal that is interactive and supports two-way communication. All transactions between the bank and the customer can be initiated through the web portal.

Does the solution offer digitization of documents?

Yes, Newgen offers digitization of documents, as part of the automation process of its Trade Finance Solution. Newgen’s Trade Finance Solution is tightly coupled with a document management system where documents are digitized as well as archived.

Does Newgen’s Trade Finance Solution come with a compliance/sanction screening process?

Yes, Newgen’s Trade Finance solution has built-in international compliances which come with the solution as out of the box. However, concerning sanction screening, the Newgen trade finance solution will integrate with the existing screening system of the bank via integration adaptors. APIs for integration will be shared by the bank at the time of gap analysis.

Does Newgen’s Trade Finance Solution come with a Payment Hub?

Yes, the solution can process end-to-end payments including cross-border and local payments. Newgen product is also SWIFT, and GPI compliant and supports ISO 20022 compliances as well.

Does Newgen’s Trade Finance Solution support supply chain finance?

Yes, end-to-end processing of supply chain finance is supported. The products under the module include marketplace, pre-shipment finance, post-shipment finance, factoring, reverse factoring, Forfeiting, and more.

LEARN MORE

Video: Newgen’s Low Code Trade Finance Platform

Video

Newgen’s Low Code Trade Finance Platform

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Case Study: Trade Finance Process Automation at a Leading Private Sector Bank with Newgen

Case Study

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