Chinese firm Weihai City Commercial Bank has successfully implemented SmartStream’s TLM Trade Finance to manage its international letters of credit (LC) and guarantees business processes.
As part of its growth strategy, Weihai City Commercial Bank has expanded its client services to include international settlement business. As a result, it required a new trade finance system to manage these processes and after examining the market for potential solutions, approached SmartStream’s local partner Brilliance Technology. Impressed by their expertise and TLM Trade Finance’s security and stability, Weihai City Commercial Bank selected Brilliance to implement the SmartStream solution.
The project was completed within three months. This has enabled Weihai City Commercial Bank to grow significantly to become the second largest commercial bank offering trade finance services in the Shandong Province.
Qin Haodong, head of international operations at Weihai City Commercial Bank, said: “We’re delighted with this project delivered by Brilliance, which has enabled us to build a significant new line of business from scratch in a short period of time. With TLM Trade Finance we have a robust foundation to continue expansion of our international trade finance business while implementing best practice processes that reduce errors, lower risk and ensure efficient use of our internal resources. The SmartStream solution has helped us enhance our competitive advantage with a very high quality, efficient, highly scalable platform.”
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