SmartStream Technologies, which specialises in financial transaction lifecycle management, has announced that one of China's city commercial banks has adopted one of its solutions.

Weihai City Commercial Bank has implemented TLM Trade Finance to manage its international letter of credit (L/C) and guarantee business processes.

Rapid solution

The announcement coincides with Weihai City Commercial Bank's expansion of services to include international settlement business.

According to SmartStream Technologies, the solution took less than three months to introduce and the bank is now processing international L/Cs and guarantee documentation.

Growth prospects

Weihai City Commercial Bank is one of the largest commercial banks offering trade finance services in China's Shandong Province.

China's city commercial banks are a significant group in the Chinese banking market.

Many of them were founded on the basis of urban credit cooperatives and over recent years have sought to attract new shareholders, including foreign investors, and extend their activities by way of mergers and acquisitions.

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