German financial services firm Helaba Group has selected SmartStream Technologies’ TLM Trade Finance to automate its letters of credit (LCs) and guarantees business processes.
Helaba’s existing trade finance system had been in use since 1990 and could no longer scale sufficiently to handle growing volumes and didn’t offer the flexibility required to manage increasing complex business processes. As a result, it examined the market for a new trade finance platform that would ensure it remained agile to the changing requirements of the banks it served. Helaba selected TLM Trade Finance and will install the solution at its data processing centre in Offenbach.
Jörg Hartmann, senior vice president, head of structured trade and commodity finance at Helaba Group, said: “As our clients’ needs evolved the technical limitations of our existing system became clear. It was evident that the SmartStream TLM Trade Finance solution was a good fit for our organisation and provided us with the ideal platform for processing our client banks’ letters of credit and collections, as well as our guarantee business. It also offers the potential for expansion to meet future processing needs and technical challenges. This will ensure that Helaba continues to provide our business partners with the best quality services.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more