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News
posted 9 May 2003
e-mmerce news
TradePoint releases Fast software
TradePoint Systems is offering a software application intended to
facilitate the movement of trucks through many of the US/Canada
border entry points using the Free and Secure Trade (Fast)
lane-processing system. TradePoint markets the new product under the
name of FASTPoint.
The Fast programme is a bilateral initiative between the United
States and Canada designed to ensure security and safety at the
border and facilitate processing of trans-border trade. TradePoint
says several clients have gone live with the FASTPoint system,
including General Motors.
TradePoint has also integrated denied-party screening with its
customs brokerage and freight-forwarding systems, which it says will
give its brokerage and forwarding clients the ability to perform due
diligence and run restricted-party-screening checks on customers and
vendors through TradePoint's Compliance Solution (ECS) engine.
With the new interface, users of TradePoint's customs brokerage
and freight-forwarding systems can flag the customers/vendors to be
checked. A query is sent to the ECS data store via the internet and
the results returned update audit files and the customer/vendor
database of the brokerage/forwarding systems. If the response
received is other than "OK", it will be considered a denied party,
and the customer/vendor will be placed on hold, preventing any
future transactions.
JPMorgan to provide EIPP services for Navistar
JPMorgan Treasury Services has signed a long-term agreement with
Navistar International Corporation's International Finance Group to
provide electronic invoice presentment and payment services (EIPP)
in the United States.
Using technology from BCE Emergis, JPMorgan will upgrade
International Finance's existing accounts-receivable process, making
their one million annual invoices available online. JPMorgan says
its electronic invoicing process will allow International Finance’s
dealers and retail customers to pre-schedule payments online.
JPMorgan's hosted EIPP platform enables clients to send invoices
electronically to their trading partners who can then view, dispute,
approve and pay their invoices through the same web-based channel.
International Finance is the financing source of International
Truck and Engine Corporation, a wholly owned subsidiary of Navistar
and producer of mid-range diesel engines, trucks and parts and
service sold under the International® brand.
Identrus and NSD form new Japanese company
Identrus and Nippon System Development (NSD) have set up a new
company to accelerate deployment of the Identrus system throughout
Japan’s banking and corporate communities.
Identrus Japan, the first Identrus affiliate, will focus on
systems management and technical integration of the Identrus
platform for banks and their customers, as well as serving as
Identrus’ primary distributor and support provider in the region.
Identrus’s system facilitates identity authentication and
customer-management services. NSD is an independent systems
integrator.
Two more banks sign up to Imex solution
Surecomp continues to sign up new clients. Among them, Société
Générale has licensed Surecomp's NetImex internet front-office
trade-finance solution.
Société Générale is already familiar with Surecomp's products,
having previously licensed its IBSnet trade-finance solution and its
Perfect Match Confirmation Matching System in the New York branch.
In 2002, the bank completed a global roll out of IBSnet. The
IBSnet-NetImex Gateway, included within IBSnet, integrates
front-office and back-office operations throughout the lifecycle of
all trade-finance products. The New York branch uses Surecomp's
Perfect Match Confirmation Matching System to control operational
and settlement risk.
Also, the Bank of Cyprus has gone live with its Swift Ready Gold
Label Imex trade-finance solution on clean guarantees and is
currently in the process of piloting the rest of the system modules
in its trade-finance centre.
The implementation includes the full suite of Imex trade-finance
products and aims to centralise the bank's trade-finance operations
and offer standardised services to corporate clients.
Meanwhile, Imex has been certified as bolero.net enabled, meaning
that bolero.net may be used as a document-messaging platform to and
from Imex. In addition, it is possible to receive and send any of
the bank-related BoleroXML messages. These include messages to issue
and amend, and presentation of documents under documentary credits.
Imex also received Swift Ready Gold accreditation for the fifth
consecutive year. Gold labeling confirms that IBSnet is complaint
with Swift standards and services.
TradeCard to work with banks in Germany and Taiwan
Postbank, the financial-services division of Deutsche Post World
Net, will be the first German financial institution to offer
TradeCard's functionality to its corporate customer base.
Postbank customers will have access to TradeCard's global
transaction-management services through a web interface carrying
Postbank's brand. The customer can log directly onto the Postbank
version of TradeCard using a web browser to deliver documents or the
customer's back-office systems can be integrated for two-way
document transmission. With 10 million customers, Postbank is one of
the leading consumer banks in Germany.
In Asia, TradeCard has announced an agreement with Taiwan-based
Shanghai Commercial & Savings Bank that will allow TradeCard
members in Taiwan to apply for export financing from the bank
directly through the TradeCard platform.
After receiving and accepting a purchase order from the buyer on
the TradeCard platform, TradeCard vendor-members will be able to
send a secure online application for financing to the Shanghai
Commercial & Savings Bank to ensure additional working capital
for managing manufacturing and receivables. The bank will have
real-time access to these applications.
Shanghai Commercial & Savings Bank is one of the top three
banks in Taiwan in terms of export negotiation balance processed and
the fifth Taiwanese bank to join the TradeCard network.
Standard Chartered launches B2BeX in Singapore
Standard Chartered has launched its web-based trade-facilitation
platform B2Bex in Singapore.
B2Bex helps businesses manage supply-chain activity and aims to
cut transaction costs by streamlining document processing and
information flows. Standard Chartered says users of B2BeX are seeing
efficiency gains of between 25% and 50%.
Ivan Lim, executive director of Ban Joo & Company, said: “As
a Singapore-based company, B2BeX empowers us in the international
trading community. The straight-through processing of documentation
such as letters of credit enables the efficient processing of the
large volumes of cash and trade transactions that we generate daily.
Its web-based platform also allows us to keep track of the business
no matter where we are.”
JPMorgan offers TradeDoc solution over the web
JPMorgan Treasury Services is offering its global-trade
supply-chain solution, JPMorgan TradeDoc®, to clients over the web.
Now accessible on the web through JPMorgan's online inquiry
system, Trade Information Exchange (TIE), TradeDoc provides a
platform for the automation and/or outsourcing of trade documents.
All documents prepared or transmitted through TradeDoc are available
for viewing in TIE.
"JPMorgan's TradeDoc offers clients throughout the global-trade
supply-chain an integrated business solution to outsource, leverage
relationships and information, and streamline existing processes, as
well as provide better service to their customers," said Paul
Simpson, global head of trade services for JPMorgan.
Regional US bank selects AMS TradeLine solution
Whitney National Bank has said it will implement American
Management Systems’ (AMS) TradeLine® software solution. AMS will
also provide consulting services for Whitney’s back-office
international-trade operations.
AMS TradeLine will be implemented on a Windows 2000 platform with
a web-enabled user interface. This marks the first such
implementation of AMS TradeLine by a small or mid-sized bank. The
solution will support all of Whitney National Bank’s trade-finance
products, including commercial and standby letters of credit,
bankers’ acceptances and documentary, clean and direct collections.
“We looked at a number of other trade-finance software providers
before choosing AMS,” said Tom Pawlyshyn, vice president of Whitney
National Bank’s international department. Whitney National Bank is
the banking subsidiary of Whitney Holding Corporation and serves a
five-state region stretching from Texas to Florida.
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