The Royal Bank of Scotland Group (RBS) has launched MaxTrad Digisuite, an array of services designed to streamline cross-border trade for importers, exporters and other financial institutions. Digisuite uses the latest digital and mobile technology to automate the transfer of critical transaction information under documentary credits, collections and open account for better efficiencies and financial returns.
MaxTrad, RBS’ electronic trade and supply chain finance (SCF) system, enables companies to initiate and manage international trade with traditional issuance, amendment and payment capabilities as well as open account management services. With this enhancement, importers and exporters can scan in trade documentation and send it in a digitised format to RBS instead of having to deal with paper documentation that has to be taken into or sent to a trade branch. Digisuite accelerates the flow of trade documents between different parties.
Madhav Goparaju, global head of trade product delivery and sourcing solutions, global transaction services, RBS, said: “The delivery of DigiSuite services will be made available in a variety of ways based on the channels preferred by our clients and financial institution partners. Currently, RBS delivers document checking status and discrepancy notification via email as part of our strategic sourcing solutions. We see the expansion of emerging channels and mobile delivery such as iMaxTrad as an opportunity to provide timely and convenient access to vital transaction information as part of a ‘one stop shop’ approach to meeting our clients’ needs.”
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