Union Systems has announced the launch of its Optimus solution, which the company claims is the first multibank international trade finance portal in Nigeria.

The Nigeria based financial technology company that focuses on providing financial software solutions and professional services to major banks in Africa says Optimus enables corporates to engage with suppliers online in real-time at the draft creation stage of the letter of credit (L/C) process.

Cloud-based single portal

The new solution enables corporates to initiate, process, and manage all international trade transactions across their banks from a single portal according to Union Systems.

Because Optimus is a cloud-based application, the company says it empowers corporates to have a consolidated view of all their trade transactions with different banks without having to visit a bank.

Benefits

Optimus aims to eliminated the hassle of corporates having to log in to many bank portals to initiate trade transactions with different banks as these transactions can now be made and monitored from a single portal.

This enables corporates to engage with their supplier online and in real-time at the draft creation stage of the L/C process.

Corporates can collaborate and communicate with their teams, suppliers, bankers and other relevant stakeholders in the trade finance value-chain from anywhere in the world. It is available on both the web and mobile channels.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.