Nasdaq listed S1 Corporation has said its S1 Trade Finance 2.2 system is now available. This is the latest version of the internet-based solution for managing international trade finance operations produced the company. It says the solution is used by several of North America's leading banks.

S1 Trade Finance is an integrated system for creating and reporting on trade documents from purchase order and letters of credit (L/Cs), to open account transactions.

Efficiencies

The latest version of S1 Trade Finance delivers new administrative, customer service and real-time reporting features that the company claims will enable those who employ it to manage trade cycles more effectively, reduce processing costs and offer competitive services to gain new customers.

The solution comprises modules for managing import and export L/Cs, open account, standby credits, documentary collections, purchase order processing and reports.

S1 customers

S1 Corporation says its software solutions focus on integrating and optimising front office procedures and have been taken up by more than 4,000 banks, credit unions and insurance providers worldwide.

According to the company, seven of the US' top 20 financial institutions and two Canadian banks, including Bank of America, US Bank, and Scotiabank are users of its trade finance solution.

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