FleetBoston Financial has launched an integrated online service that it says offers corporate clients a single point of access to a wide range of capabilities and information.

Through a new web portal called corporate.fleet.com, the service will allow corporate clients to conduct cash management, foreign exchange, fixed income and trade finance transactions on the Internet.

TradeKey

Included in Fleet's online trade finance services are TradeKey, the Boston-based financial services company's web-based initiation and reporting system. TradeKey enables clients to manage purchases from their computers - they can, for example, eliminate paperwork and repetitive data entry according to Fleet by initiating and monitoring letters of credit (L/Cs) online.

Staff and technology

Fleet's approach to L/C processing combines traditional staff expertise with computer technologies. When documents are received under a L/C, these are examined by staff who ensure that they are in compliance with the terms of the L/C. Fleet's operations centre, however, utilises electronic image technology to help process transactions quickly and accurately.

The new corporate.fleet.com provides a range of facilities additional to banking services. All online users will have free access to a wide array of research and commentary from economists and global markets strategists as well as information on Fleet's products and services.

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