In the highly competitive trade finance sector, proactive and personalised customer service can become a key strategic differentiator. SmartStream’s TradeConnect automates the electronic communication between banks and their trade clients to deliver effective customer support.
Replacing paper-based manual processes with electronic forms, documentation and workflows, banks can securely connect all parties in the trade cycle. As a result, response times and processing costs can be reduced and STP rates improved.
TradeConnect’s real-time messaging and electronic document delivery drives more efficient trade processes and helps to strengthen the customer relationship. Risk is reduced due to a significant drop in the number of errors caused by manual inputs and data re-entry.
Banks can also provide greater self-service elements through TradeConnect, helping to strengthen the client relationship further and deliver a competitive advantage. This offers benefits to the customer as they can manage significant portions of trade data entry, potentially reducing bank charges.