BNP Paribas is expanding the range of trade finance services available through its web-based banking platform by launching a new module that allows corporate customers to handle their trade transactions online.

Access to the module, which includes facilities for letter of credit (L/C) management, is available through the bank's Connexis Trade system for online cash management and trade services.

Import and export

Clients using the trade module can create and amend their L/Cs, receive immediate notification of all L/Cs issued in their favour, issue shipping guarantees and apply for import and export financing requests through the internet.

According to Joseph Sum, head of BNP Paribas' electronic banking operations in Hong Kong, a single access point will now enable clients to switch from Connexis' cash management services to trade services without having to log in again.

Integrated

According to a bank spokesperson, Connexis Trade provides a regular follow up of all outstanding transactions and includes a message centre with full reporting. The web platform is integrated with the bank's back office systems allowing for straight through processing (STP) of transactions, the aim being that STP reduces errors, optimises turn around time and is cost effective.

The new trade module is part of BNP Paribas' global rollout of Connexis.

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