Misys has broadened the functionality of its front-end trade finance solution, Trade Portal (MTP) for Multi-Bank. The enhancement is designed to enrich the solution for corporates of any size by enabling SWIFTNet access through the Misys SWIFTNet Service Bureau.
The solution caters for corporates that have relationships with more than one trade finance bank. Corporates no longer need to manage their trade finance business, such as letters of credit (LCs), documentary collections, bonds and guarantees or open account transactions, with each bank separately. MTP for Multi-Bank allows corporate organisations to access a consolidated view of all their trade finance transactions online, minimising potential reconciliation, reporting and auditing issues. The single sign-on service offers a secure way to improve operational efficiency and reduce risk.
Organisations using the solution can gain access to the SWIFT network through the Misys SWIFTNet Service Bureau. This allows them to take advantage of the new corporate-to-bank MT798 trade envelope messages, resulting in better straight-through processing (STP) rates.
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