BNP Paribas has launched a new module to its web-banking platform that allows corporate customers to handle their trade transactions on line. Access to the module, which is called Connexis Trade, is gained through a single login.
"Connexis is our e-banking solution for cash management and trade services," says Joseph Sum, head of BNP Paribas’ electronic banking operations in Hong Kong. "Up until now clients have had access to real-time reporting and payment initiation on the cash side through Connexis Cash, and now we have launched the trade module," he explains. He says the single access point for both services allows customers to switch from one to the other without having to login again.
Clients using the trade module can create and amend their letters of credit (LC), receive immediate notification of all LCs issued in their favour, issue shipping guarantees and apply for import and export financing requests through the internet.
Asia regional head of BNP Paribas' trade business, Chantal Nicolle, adds: "Connexis Trade not only provides a regular follow up of all outstanding transactions but also includes a message centre with full reporting.
She says the web platform is integrated with the bank's back office systems allowing for straight through processing of transactions. "Straight through processing reduces errors, optimises turn around time and is very cost effective."
The launch of Connexis Trade is a global roll-out to BNP Paribas corporate clients worldwide.