Hatton National Bank (HNB), one of Sri Lanka's leading private sector banks, has launched TxB TradeX, a next-generation digital trade finance platform developed in collaboration with Infinity Global and powered by Finastra technology.

This platform aims to modernise and streamline trade finance operations, particularly benefiting businesses engaged in international trade.

Secure, digital L/Cs

TxB TradeX offers a comprehensive suite of digital trade finance services, including letters of credit (L/Cs). It facilitates the issuance and management of L/Cs through a secure digital interface.

The platform also handles shipping guarantees by providing digital processing of shipping guarantees to expedite cargo release.

Digital documentation

Import/export bill processing meanwhile is streamlined through the handling of trade documents for both importers and exporters.

The platform is designed to simplify and digitise trade documentation and approval processes, enhancing speed, visibility, and efficiency across the trade finance lifecycle.

Benefits for L/C business

For businesses utilising L/Cs, TxB TradeX offers several advantages, including enhanced efficiency. The platform's digital processing reduces manual paperwork, accelerating the issuance and amendment of L/Cs.

Clients can also benefit from 24/7 accessibility and initiate and monitor L/C transactions at any time, improving responsiveness to international trade demands.

Global market potential

Improved transparency is provided by real-time tracking of L/C status to provide greater visibility into transaction progress.

The platform should also result in fewer errors. Automated workflows minimise the risk of human error in document handling.

These enhancements are particularly beneficial for Sri Lankan businesses seeking to engage more effectively with global markets.

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