Trade finance operations are under pressure to improve service levels and to handle a growing range of products. SmartStream’s TLM Trade Finance is a platform agnostic solution designed to help banks react efficiently to evolving customer needs.
TLM Trade Finance automates the traditionally manual, paper-based banking processes, to improve documentation quality and to allow banks to process higher transaction volumes. In doing so, it can reduce risk and costs, delivering new levels of efficiency to the trade services business.
TLM Trade Finance aims to help banks provide higher-quality products and trade services to customers in a consistent and cost-effective way to a widely dispersed client base. This approach can enable institutions to focus on the client to forge stronger, more profitable relationships.
It enables corporate clients to be included in the end-to-end automation of documentation, supporting direct communication in the drive for greater STP of letters of credit, collections and guarantee transactions, as well as related financing.
To help deliver a more competitive trade finance offering, SmartStream has created TradeConnect to automate the electronic communication between banks and their trade clients.