ABN AMRO's trade finance division has expanded its offering in India by giving customers access to its online trade portal MaxTrad and a working capital program called Channel Finance.
MaxTrad is already being used by the bank's clients in other Asian countries allowing them to manage several stages in the trade cycle across the internet. They use the system to initiate letters of credit, capture date, deliver purchase orders, prepare documents, buy or sell foreign exchange and arrange settlement.
Globally, ABN AMRO is expecting to have 2,000 users of the system by the end of this year, and the bank is on track to meet this target. About...
