Trade Finance

Trade-X_Trade-X-Print-Use Trade Finance

Trade-X™ is an international trade finance software that delivers unique functionalities missing in most international trade systems to meet the requirement of the African market. Trade-X™ encapsulates the required step by step process in the entire life cycle of trade finance in Africa.

Trade-X™ helps banks meet all Central Bank regulatory reporting and processes. It enables banks easily reconcile trade finance products transactions in conformity with local/Central Bank regulatory requirement through its interest distribution, offshore charges and unutilized balances features.

The software is in use by one of the largest bank in Africa, supporting over 4000 users and transactions daily.

Trade-X™ enables client banks manage and report on international trade finance operations. It encompasses a range of trade finance activities including trade warranty forms, custom duty payments and remittances, shipping documents funding instruments (Bids, Form Q), Export Shipment, Export Repatriation, Interest Distribution, Offshore Charges, Unutilized Balance, matching of MT103 and MT940, Exchange Control Documents (ECD) and Pre-Assessment Arrival Report (PAAR).

Utilising the functionality of Trade-X™, a bank is able to generate more income through the efficient processing of regulatory trade transactions, including various charges related to Customs Duties.

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Trade-X™ provides:

data-storage Trade Finance
A platform that allows a bank to reconcile all its off shore related accounts with regards to letter of credit, collections and guarantee trade transactions in conformity with local / CBN regulatory requirement through its interest distribution, offshore charges and unutilized balances sub modules.
data-store Trade Finance
A complete Trade Data Mart of all trade related data from multiple in-bank systems, including Treasury and Foreign Exchange, enabling advanced internal and external (CBN) reporting.
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Functionality at head office and across the branches of the bank which enables authorised bank staff access Trade-X™ transaction information in real time.
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Full compliance with Central Bank of Nigeria (CBN) requirements, limits, regulations and reporting, as published and updated regularly by the CBN.
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Real time links with CBN Single Window and Nigeria Customs Portal.
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A user friendly dashboard to view all trade activities, statues, volumes & locations.
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Integrated electronic scanning, filing and retrieval of Letters of Credit, Shipping Documents, CBN Forms.
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Integrated live shipping vessel tracking, screening of shipping company data, real time updates to sanction lists of traded goods and ports.
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Integrated payment transaction screening against international sanctions list including the bank’s private list and internal watch lists.
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International Payment Routing & SWIFT Messaging.
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Trade-X™ manages all CBN bid requests for FX and the following activities;
Managing PAAR
Upload Single Window XML
Bill of Lading Extension
NXP Blocking
Form M Expiration
Un-utilised Balances