Trade finance
Business Online’s International Trade solution is an integrated banking channel
We provide effective and streamlined documentary trade and open account trade finance (OATF) capabilities.
Some of the Benefits
Cost effective
Simple, cost-effective transacting conducted directly from your business premises, even after hours
Intuitive navigation
Easy and intuitive navigation
Convenience
Reduced capture time with the convenience of re-using parties, templates and clauses
Secure
Security aligned to industry standards
Trade finance features
Our Trade Finance service offers you the ability to:
- Manage documentary and open account trade transactions throughout their life cycle
- Submit supporting documentation and receive advices electronically
- Negotiate Import Letter of Credit conditions directly with the supplier using the system-generated, draft SWIFT capability
- Comply with regulatory requirements
- Set up and control a workflow solution to receive email notifications on both bank and own-initiated events
- Send and receive secure messages to and from the bank
- Generate customisable excel reports containing up to date transactional data
- Upload batch invoices and authenticated file uploads for open account trade finance services
- Control - Control through segregation of duties that you can specify.
- Regulatory - International Trade solution provides you with the capabilities to comply with regulatory requirements.
- Powerful Functionality - Powerful functionality enables you to search transactions and find specific items quickly and easily.
- Navigation - Our International Trade module provides you with improved navigation in a secure and streamlined platform.
- Security - Our platform offers exceptional security through two-factor authentication, user access control segregation of duties, audit reports and more.
Documentary trade
For clients who require documentary trade services, we offer functionality for conducting trade operations to businesses trading with partners in international markets. We provide you with the capability to originate, give instructions to the bank, and receive advices and secure messages regarding trade transactions throughout the transaction life cycle.
Documentary trade products include:
- Import letters of credit
- Import collections
- Export letters of credit
- Settlement of trade transactions
Open account Trade Finance (OATF)
In today’s business environment, buyers and sellers often trade on open account terms, meaning goods and services are delivered / provided with payment being made or received at a later stage. Buyers typically require extended terms from sellers, which are aligned to the receipt of their sales proceeds, whereas sellers usually prefer to receive their sales proceeds as early as possible. This means that effective working capital solutions are needed to balance the needs of buyers and sellers.
Open account trade finance (OATF) through Business Online helps buyers and suppliers to load, authorise and ultimately finance (or discount) invoices.
Open account trade finance includes:
- Supplier finance (alternatively known as Payables finance)
- Receivables discounting
- Invoice finance
International Trade Security and Control
- The segregation of duties, as specified by you, the client, is a key component to managing risk.
- If needed you can specify a group of companies, and the hierarchical structure of those companies, when setting up a profile.
- Access is controlled with an advanced security feature known as two-factor authentication. This requires users to provide a username and two passwords – their own and a one-time password (OTP) generated by a device called a token.
- To streamline processing when the instruction reaches the bank, the system helps users to capture data accurately and ensures that all mandatory fields are completed.
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Trade finance features
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Documentary trade
-
Open account Trade Finance (OATF)
-
International Trade Security and Control
Our Trade Finance service offers you the ability to:
- Manage documentary and open account trade transactions throughout their life cycle
- Submit supporting documentation and receive advices electronically
- Negotiate Import Letter of Credit conditions directly with the supplier using the system-generated, draft SWIFT capability
- Comply with regulatory requirements
- Set up and control a workflow solution to receive email notifications on both bank and own-initiated events
- Send and receive secure messages to and from the bank
- Generate customisable excel reports containing up to date transactional data
- Upload batch invoices and authenticated file uploads for open account trade finance services
- Control - Control through segregation of duties that you can specify.
- Regulatory - International Trade solution provides you with the capabilities to comply with regulatory requirements.
- Powerful Functionality - Powerful functionality enables you to search transactions and find specific items quickly and easily.
- Navigation - Our International Trade module provides you with improved navigation in a secure and streamlined platform.
- Security - Our platform offers exceptional security through two-factor authentication, user access control segregation of duties, audit reports and more.
For clients who require documentary trade services, we offer functionality for conducting trade operations to businesses trading with partners in international markets. We provide you with the capability to originate, give instructions to the bank, and receive advices and secure messages regarding trade transactions throughout the transaction life cycle.
Documentary trade products include:
- Import letters of credit
- Import collections
- Export letters of credit
- Settlement of trade transactions
In today’s business environment, buyers and sellers often trade on open account terms, meaning goods and services are delivered / provided with payment being made or received at a later stage. Buyers typically require extended terms from sellers, which are aligned to the receipt of their sales proceeds, whereas sellers usually prefer to receive their sales proceeds as early as possible. This means that effective working capital solutions are needed to balance the needs of buyers and sellers.
Open account trade finance (OATF) through Business Online helps buyers and suppliers to load, authorise and ultimately finance (or discount) invoices.
Open account trade finance includes:
- Supplier finance (alternatively known as Payables finance)
- Receivables discounting
- Invoice finance
- The segregation of duties, as specified by you, the client, is a key component to managing risk.
- If needed you can specify a group of companies, and the hierarchical structure of those companies, when setting up a profile.
- Access is controlled with an advanced security feature known as two-factor authentication. This requires users to provide a username and two passwords – their own and a one-time password (OTP) generated by a device called a token.
- To streamline processing when the instruction reaches the bank, the system helps users to capture data accurately and ensures that all mandatory fields are completed.
Support we provide
- A Standard Bank representative will assist you to determine the requirements of your business and will guide you in the creation of the profiles.
- Once the profile is created, a bank representative will provide training on the product at your business premises.
- Users can contact the specialised client contact centre where our highly trained operators can assist with product related queries as well as navigation.
