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Industrial Bank Launched the First All-course Trade Finance Operating System in China

Recently, Industrial Bank (IB) successfully launched and put into operation the trade finance business system, becoming the first Chinese commercial bank building the operating system covering advance payment, stock and receivables synchronously.

As learnt by the reporter, the all-course trade finance business system of IB, as an electronic operation platform for the Bank's trade finance business, covers functions including operation process management, monitoring of trading elements, risk compliance management and statistic analysis of data, etc. After launch and operation of the system, the normalized management and standardized operation of trade financing business of IB worth hundreds of billions will have more powerful technical guarantee, the risk management capability of its trade finance team will be further reinforced, and the refined level of trade finance business will also be enhanced.

In the future, the person-in-charge of the Trade Finance Department of IB indicates, the Bank will gradually develop the trade finance business system into a self-service system for trade finance customers, with which they can realize integrated service functions including online financing, settlement in home and foreign currencies, management of accounts receivable, and management of orders.

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