HSH Nordbank says it has the implemented the TLM Trade Finance solution to automate its business documentation, including letters of credit (L/Cs), on a single trade finance platform.

Financial transaction lifecycle management specialist, SmartStream, has supplied the solution.

L/C management

The solution is now managing HSH Nordbank's L/C and collection business for both import and export customers.

It is also processing the German financial services firm's foreign guarantee business and standby L/Cs.

Greater automation

According to HSH Nordbank, the new platform will allow it to process a wide range of documentation with greater automation, thereby improving the quality of its data.

Established in 2003, HSH Nordbank is the result of a merger between Hamburgische Landesbank and Landesbank Schleswig-Holstein.

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