iGTB has helped to centralise trade finance IT operations across the Raiffeisen Sector with a single instance implementation of the solution based on a single source code.
Following Raiffeisen Bank International, Raiffeisenlandesbank Niederösterreich-Wien AG and Raiffeisen Landesbank Steiermark can now offer higher STP rates for incoming trade finance SWIFT messages, automate correspondence, provide letters of credit, documentary collections and guarantee commitments online and provide periodic charging and settlement options for customer accounts.
The iGTBs Digital Trade Finance platform will increase operational efficiency by automating complex functions such as third-party three-layer letter of credit and guarantee transactions and accounting entry processing through respective core applications. Business processing operations for multiple trade finance functions like refund of charges and routing of payments transactions are also automated.
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