One of California's largest banks is to launch online global trade finance services that it claims will provide small- and medium-sized business clients with trade initiation capabilities and extensive enquiry and reporting functions for many trade finance instruments via the Internet.

United California Bank (UCB), the third largest bank headquartered in the state with approximately US$11 billion in assets, says its WebDirect - Trader service, the cash management component of which was launched in July, will by the end of October provide a full range of international trading instruments.

UCB is particularly stressing that its new system - based on software developed by Nasdaq-quoted S1 Corporation - will feature import letters of credit (L/Cs), export L/Cs, documentary collections, standby L/Cs, customer administration, bank administration and customer and bank reports.

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