Verasis Trade Finance
A single automated system, a complete solution.
Verasis Trade Finance is an integrated system that fully automates and audits the complete cycle of trade finance transactions, in real time and in accordance with trade and regulatory standards (IFA, SWIFT and International Accounting).
With Verasis Trade Finance financial institutions can analyse overall exposure, productivity and profitability from within a single system. They can also calculate commissions, foreign exchange equivalents and liabilities automatically.
Verasis Trade Finance provides data verification and status control throughout the transaction life cycle. This includes the various fee-generating stages and compliance with rules governing International Trade. It increases productivity through accurate and timely reporting, reducing paperwork and the risk of processing errors.
Standard processing instruments handled by Verasis Trade Finance
- Import/Export Letters of Credit
- Standby Letters of Credit
- Documentary Import/Export Letter of Credit
- Bills of Exchange
- Letters of Guarantee
- Promissory Notes
- Direct Loans
- Syndications/Participations
The following specific characteristics are built-in to Verasis Trade Finance, making it an essential solution for all trade finance transactions:
Compliance with industry standards
SWIFT and XML
Entity/Relation-based Data Model
Avoiding redundant data definition
Strong communication capabilities with other systems
Achieving STP and communicating with risk and accounting systems
Advanced multi-entity capability
Centralising and sharing resources and operations across multiple entities, ensuring that organisational needs are met across domestic and foreign branches, independent subsidiaries, and white-labelling services
System Flexibility
Adapting to market changes and thereby providing investment protection
State-of-the-art technology
- Cross-platform portability
- Processing distribution, but without distributed systems
- Easy communications with other systems and applications
- Rapid development architecture
- Automated “debugging” functionality for accurate and automatic reporting of issues by client
Key features of Verasis Trade Finance
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