Banks are continuing to consider the relative merits of third-party and in some instances their own online systems for facilitating international trade. Meanwhile, several companies spawned in the late 1990s remain determined to persuade banks to choose their systems for enhancing the security or minimising the risk in online transactions and for ensuring compliancy in international trades.

CertCo, Inc. has announced that its RMX suite of systems, which aims to provide all parties to a transaction with the financial, business and credit information they need to close a deal online, is to feature NextLinx Corp's Global Knowledge database, which features an extensive catalogue of global trade rules and regulations.

Compliance

According to NextLinx - which says it strives to maintain the most accurate trade compliance rules - Global Knowledge, enables users to classify products, screen shipments and orders for denied parties, calculate landed costs prior to purchase, maintain letters of credit (L/Cs) and generate documents to ensure compliance with government regulations.

The two companies are to offer their integrated trade solution to international banks and marketplaces. CertCo RMX is already used to support transaction services from providers, including First International Bank and Dun & Bradstreet. NextLinx's customer list includes Boeing, FedEx, UPS, Proctor and Gamble, Cisco Systems and ABN AMRO. and Cisco Systems.

ABN AMRO

NextLinx worked with another secure online solutions provider, ValiCert, when it worked to develop ABN AMRO's AllTrade e-commerce offering launched in August. AllTrade is described by ABN AMRO as its end-to-end online solution for order management, risk mitigation, financing and settlement in cross-border trade - it aims to integrate all parties to a cross-border transaction, involved in either open account or credit enhanced trade, into a single platform.

AllTrade builds on ABN AMRO's initial online push, which featured the MaxTrad L/C and Collections modules that offer both importers and exporters the ability to instantly access L/C and documentary collection information to monitor payments and manage risk. These modules aim to help international traders use the Internet to track, analyse and facilitate payments covered by L/Cs and documentary collections.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.