Exim Bank Tanzania (EBT) has introduced a new state-of-the-art information technology platform that it claims will improve its letter of credit (L/C) issuance and bank guarantee services.

The privately owned bank has opted for a platform developed by London-based Polaris Software.

Features

As well as providing a more efficient service when it comes to providing bank guarantees and L/Cs, the new software aims to enable customers to transfer funds more efficiently whether within the bank or with third parties.

It also promises more efficient systems for credit applications and facilities for downloading account statements.

Electronic advice

On the Polaris system, customers can request online the instant opening of L/Cs and guarantees as well as bills of collection.

Customers will be advised electronically of the progress of their requests.

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