These two modules need to be purchased along with core modules in order to fully implement the Trade Finance product suite
Trade Finance Modules
T24 is parameter driven software - once the parameter tables are configured in line with business requirements within the LC product, business users are able to handle the Issuing/Advising/Inward or Outward Collections in any currency and also can handle charges and commissions or cash collateral with ease
T24 Trade Finance is fully compliant with UCP600, URC522, Article 13 - Bank to Bank Reimbursements, SWIFT 7 Series and 4 Series Messages
T24 Trade Finance is also compliant with Customer & Bank to Bank Transfer SWIFT messages MT103, MT202, MT202COV - once the Beneficiary/ Drawer submits the document as per LC terms and conditions, it is possible to make the payment from within the Trade Finance module
T24 Trade Finance module allows the bank to view the list of SWIFT/customer advices and the accounting entries before releasing the Documentary Credit or Documentary Collection or Guarantees Transaction
T24 supports 999 payments under one Letter of Credit and has inbuilt functionality to support Transferable, Back-to-Back, Revolving LC’s, Reimbursements concepts etc.
T24 Trade Finance comes complete with list of screens, reports, customer advices to assist the Trade Services department
T24 also allows the Banks to customize or create new screens, reports, customer advices to support their customer or corporate needs
T24 software is very flexible, which allows banks to develop new products without the need to depend on TEMENOS.
Trade Finance products are integrated with Accounting, Limits, Collateral, Messaging (Customer Advice in both PRINT/XML format and bank SWIFT messages) and can be interfaced with any external system with ease