Finacle Trade Connect is a blockchain based solution developed specifically to address and simplify the trade finance process requirements of banks. The solution is designed to help digitize trade finance business processes, including validation of ownership, certification of documents and making payments, while working on a distributed, trusted and shared network.
Finacle Trade Connect is available for a range of functions, including Bill Collection, Letters of Credit, Open Account for Trade, C2C Transactions for Trade, B2C transactions for Trade, PO Financing and Invoice financing.
Infosys Finacle has launched a pilot blockchain based network for banks with the goal of evaluating the Finacle Trade Connect solution. More than 14 banks globally have already chosen this network to transform their international trade business. We invite you to collaborate in the pilot and lay the foundations of the next generation global trade ecosystem. Infosys Finacle will support the technology platform and maintain the test network. Get in touch with us at Contact@edgeverve.com to know more.
Multiple entities are involved in a typical trade process and each entity interacts with the other through soiled channels. No one has a clear view on the status of the trade instruments such as purchase orders, bills, invoices and letters of credit.
In a distributed and shared network based system built on blockchain technology, all parties in a transaction have direct relationships with each other and absolute transparency of the transaction instruments
The table compares the existing trade finance process with the process on Finacle Trade Connect, along with the advantages
Finacle Trade Connect is a blockchain based solution developed specifically to address and simplify the trade finance process requirements of banks.
Finacle Payments Connect is a blockchain based enterprise solution to help banks simplify global payments processes and provide a frictionless experience across all relevant transaction areas.
Financial institutions are constantly challenged to keep up with the changes happening in the payments. Changing customer preferences, regulatory reforms, alternate payment methods and other industry