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    Growing Need For Certain Level of STP (Straight Through Processing) in Trade Finance Operations Why?

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    GIRI
    Growing need for certain level of STP (Straight Through Processing) in Trade Finance Operations. A modest setup would mean that at least 80% of all transactions are processed and settled electronically with minimal manual intervention and errors. Creating business value using modest STP requires a two-pronged approach - short-term initiatives to address transaction speed and cost containment, and long-term initiatives to automate processes, improve standards and adapt to future STP. Proposed initiatives include dynamic advice generation, parent-child limit management, group limit tagging, and data integration between trade systems and SWIFT.

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    Growing Need For Certain Level of STP (Straight Through Processing) in Trade Finance Operations Why?

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    GIRI
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    Growing need for certain level of STP (Straight Through Processing) in Trade Finance Operations. A modest setup would mean that at least 80% of all transactions are processed and settled electronically with minimal manual intervention and errors. Creating business value using modest STP requires a two-pronged approach - short-term initiatives to address transaction speed and cost containment, and long-term initiatives to automate processes, improve standards and adapt to future STP. Proposed initiatives include dynamic advice generation, parent-child limit management, group limit tagging, and data integration between trade systems and SWIFT.

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    Growing need for certain level of STP (Straight Through Processing) in Trade Finance Operations. A modest setup would mean that at least 80% of all transactions are processed and settled electronically with minimal manual intervention and errors. Creating business value using modest STP requires a two-pronged approach - short-term initiatives to address transaction speed and cost containment, and long-term initiatives to automate processes, improve standards and adapt to future STP. Proposed initiatives include dynamic advice generation, parent-child limit management, group limit tagging, and data integration between trade systems and SWIFT.

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    Download as docx, pdf, or txt
    48 views2 pages

    Growing Need For Certain Level of STP (Straight Through Processing) in Trade Finance Operations Why?

    Uploaded by

    GIRI
    Growing need for certain level of STP (Straight Through Processing) in Trade Finance Operations. A modest setup would mean that at least 80% of all transactions are processed and settled electronically with minimal manual intervention and errors. Creating business value using modest STP requires a two-pronged approach - short-term initiatives to address transaction speed and cost containment, and long-term initiatives to automate processes, improve standards and adapt to future STP. Proposed initiatives include dynamic advice generation, parent-child limit management, group limit tagging, and data integration between trade systems and SWIFT.

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    Growing need for certain level of STP (Straight Through Processing) in Trade Finance Operations

    Why?

    Trade Finance Business-Most Complex areas of wholesale banking getting involved more than 12 parties
    in an end-to end txn.

    Banks: under immense pressure to provide/perform high quality services-Corporates

    TFB-Moving towards paperless processing with minimal manual intervention

    Difficult to achieve 100% automation or straight-through processing (STP) across all the entities in a trade
    finance ecosystem

    multiple trade systems have to interact with the legacy systems in the middle and back office, such as
    accounting systems, limits maintenance, static data maintenance, payment processing systems,

    increase data redundancies and errors caused by excessive manual intervention.

    A modest setup, however, would mean that at least 80% of all the transaction are processed and settled
    electronically with minimal manual intervention and errors by all the parties in the trade lifecycle.

    advances in technology- cohesive and integrated service to suit individual customer needs.

    Many large corporates have implemented enterprise resource planning (ERP) solutions and are using
    electronic trade services to manage their trade finance transactions.

    Implement an integrated solutions ecosystem

    Improve the data integrity across many systems

    Standardise business processes and information exchange protocols

    Creating Business Value Using Modest STP: To create value-add for our bank , we need to have a two-
    pronged approach:

    Short-term value: We need to look at short-term initiatives and benefits that they can generate after
    enabling modest STP. This would effectively address the concerns relating to transaction speed and cost
    containment

    Long-term value: leveraging short-term initiatives, we can create a target-operating model that will
    effectively address some of the issues relating to automating processes, improving and implementing
    industry standards, and ultimately helping the bank gear up to adapt to future STP initiatives.

    To create value-add for our trade finance operations and the customers are:

    Product of Temenos:

    Temenos Connect Internet Banking (TCIB)


    High Priority:

    To improve efficiencies and meet customer demands.

    Modest Level of Automation/STP (Straight Through Processing)

    1. Dynamic Advice Generation from Globus (Real Time/in future): Debit Advice/Credit Advice/LC
    Issuance/LC Amendment/LC Settlement/GTEE Advice.
    2. Dynamic Advice Generation from Internet Banking Services
    3. Parent Limit/Child Limit-at the time renewal/disbursal-LC/GTEE
    4. Parent Limit/Child Limit-at the time renewal/Disbursal-TR/SDL (Trade Loan)
    5. Group Limit Tagging
    6. Fund Position/facility summary from the CBS
    7. MIS NRB CODING-Auto generation at the time of new TR/SDL disbursal.
    8. Internet-enabled order management
    9. MIS for Reconciliation- LC/GTEE Contingent and Margin with GL=Automatic Reconciliation

    Next:

    Data Integration with SWIFT –In&Out (Auto Generation of LC Draft from the Globus to SWIFT)

    Implement Data Integration with ERP

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