SmartStream Trade Finance
SmartStream Trade Finance is designed for banks that need to automate their documentary business. It processes a broad spectrum of trade finance transactions: Letters of Credit (incl.special types such as transferable, back-to-back or standby L/Cs); Collections (documentary,draft and clean); Guarantees (direct, indirect and foreign); Risk Syndication; Bills Purchased/Discounted, Financing (inc. Bankers' Acceptances and Trust Receipts); Reimbursements; International Payments; and Multi-entity processing. It is a client/server solution that runs on Windows NT and UNIX platforms, excels in flexibility and support for business logic. Remote User access is provided through Intranet-connected thin clients.
English,
German
Supported Technologies
Windows 95/98/ME,
Windows XP/2000/NT ,
AIX,
HP/UX,
Linux,
Solaris/Sun OS
Web-Based (Browser)
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Pricing
Users (# of seats), Module, Other
100,000 to 1,000,000
david.hamilton@smartstream-md.com
0043 1 31354 98669
Additional Product Information
KEY FEATURES;SmartStream Trade Finance version 5 is an advanced System for the automatic processing of all types of documentary business. This version has evolved from more than 17 years'experience in implementing installations at customer banks. It has the same flexible workflow architecture and multi-purpose functionality as previous versions but has been redeveloped in order to benefit from the latest technology available. The key features are as follows:;The interactive processes of SmartStream Trade Finance are run by an application engine that interprets definitions of forms and data sets, as well as rules for transaction processing and presentation. The rules and definitions are created and maintained by using a design tool (TradeDesign). The language and syntax, though mostly generated through mouse actions, is a dialect of industry standard BASIC.;The needs of our customers have become too wide-ranging and bank specific to be provided by a parameter system, no matter how comprehensive. The problem is resolved by our system, which enables rules to be freely defined, thus achieving complete flexibility and ease of customisation.;Under SmartStream Trade Finance, modifiable rules define all functionality, so that there are virtually no limitations to what can be created. The Bank will receive the system with a complete standard set of transactions and data base design. SmartStream Technologies will assist with customisation to the Bank's detailed requirements and provide in depth training on the System's design mode. The bank will therefore not only have the system in place in exactly the form it requires but also possess both the tool and the know-how to make changes on site. Thus it will never have to rely totally on the developer to deliver re-programmed software for changes needed in the future, with all the associated delays and costs. ;The new version uses all the contemporary features common to Windows applications, in a state-of-the-art intuitive user interface that can also handle pictures and videos. Moreover, the application has imaging capabilities including scanning, annotation,and optical character reading.;The architecture of the TradeDesign platform and the use of a database server makes the system virtually platform independent. The application uses standard database access facilities to connect to any RDBMS supporting network access via SQL.;The TradeDesign development is compatible with BOLERO and SmartStream Technologies GmbH is a BOLERO.net Partner.;CORE FUNCTIONALITY;Trade finance transactions are processed immediately with automatic generation of the relevant SWIFT messages and correspondence, including full integration with back office systems through interface to accounting, risk management systems etc. All steps required to complete a business transaction are part of a single integrated SmartStream Trade Finance transaction. Input is via a series of screens, any of which can be freely navigated at one time during a transaction.;Graphical User Interface;SmartStream Trade Finance is a genuine GUI application and not just a GUI translation. Thus there is a single and consistent user interface for all screens and modules. The GUI and the rule system allow the user to move freely through all components of the transaction (including the results), entering data in any sequence that suits him without limitations. It is therefore a lot more efficient as the user does not have to sort and organise the information first and does not have to back-track through screens and menus if the results are not as he intended. Furthermore, under the rule system, a significant portion of the data entry is automated, through selection lists of objects such as banks and text narratives. Again, a substantial amount of time is saved, and errors are avoided. To adapt its functionality users simply define new rules or change existing ones. An unlimited number of simultaneously supported tasks/sessions may be undertaken on screen. There is an extensive on-line help facility as well as cut, copy and paste and drag and drop features. Data can be extracted from look-up tables supported with convenient search methods.;Products Supported;A wide range of products, such as all types of Letters of Credit, Collections, Guarantees, including related financing such as Pre-export financing, Trust Receipts, Discounting and Bankers' Acceptances can be processed in a single integrated application. Reimbursements, Risk Syndication, and Multi-entity processing are also supported. The application is scaleable so that banks can start with a few modules and add more as required.;Straight Through Processing;Straight Through Processing is achieved for the Bank's customer by interfacing SmartStream Trade Finance with SmartStream TradeConnect, the market's most popular front end solution for exchanging electronic messages with the Bank's processing application.;This is available as a Browser version, using Java or ActiveX.;SWIFT Message Processing;Incoming SWIFT messages are automatically taken over by the System in the correct fields for processing. Outward SWIFT messages are generated by the SmartStream Trade Finance system during daily processing. The input fields that are used for these messages are verified for SWIFT compliance. The validations include SWIFT character set checking, automatic conversion of invalid characters and enforcement of syntactical rules. Field and sub-field structures are generated by the system in correct format, and, where applicable, only coded words are used.;Defaulting and Plausibility Checks;Context sensitive default features and logical consistency or plausibility checks, based on defined knowledge rules and other inputs, assist in the elimination of errors. Thus, for example, if the latest shipment date exceeded the validity date for a letter of credit, an error message would appear on screen against the relative input field.;Access Control;The sophisticated Access Control System ensures System log-on via unique User ID and password (with expiry date). Log-on attempts are logged and a maximum number of attempts can be set. Minimum password requirements such as length, number of numerics, number of characters, can be defined for installation. In this case password management is done by the application. Alternatively, the application verifies proper Windows log-on and retrieves the User I-D. In this case password management is the responsibility of the Windows operating system. Access to application functions and authorisations are always handled by the application, through the User Profile and User Attributes. User Profile enables the bank to define the initial menu by user and the transactions that a user is allowed to perform. User Attributes enable the bank to define signature authority, design access, administrator access, and user's work group.;Multi-level Authorisation;The Control & Release System based on the four eye principle gives clear control of release functions for those transactions, which, because of their type, amount etc., must be authorised by more than one signature. Before the final release, the system checks whether the verifying person's hierarchy level is sufficient for a given transaction or amount or if further signatures are required.;Workflow;SmartStream Trade Finance has a flexible and completely integrated workflow system which allows for the definition of work distribution and management. Workflow services, such as the generation of ledger entries, update of statistics and history or printing of output documents, are executed automatically in the background, therefore having no impact on the response times at the user's workstation. The setting of time frequencies will be dictated by a scheduler within the operating system and by the settings in the Workflow Manager. Interdepencies between the services can be defined to ensure that prerequisites (audit and consistency requirements) are adhered to.;Flexible Template System;Correspondence is generated automatically by the system in any given language for all transactions in XML format, allowing for sophisticated correspondence and display capability over Internet connections. In transaction processing the correspondence may be immediately previewed.;Multi-level Limit System;SmartStream Trade Finance has a dedicated module for exposure control. If the bank decides to use this module, they can define multi-level lines e.g.customer, product type and country. Limit reassignment (transferring limits from one type to another) is also possible. Limits could also be downloaded into the limit system from the Bank's Credit Department on a daily or more frequent basis. During daily business, a limit evaluation is done when transactions are saved. If a limit would be exceeded by a transaction or if there are restrictions on the account, a request for limit excess is generated and mailed to the responsible department. After a transaction is released by the controlling officer, there is an automatic completion check before dispatch of documents, a part of which process will verify that necessary credit approvals have been received so as to allow the transaction to proceed.;Imaging/OCR;Currently the SmartStream Trade Finance system has a complete built-in Image and OCR capability which includes storage, indexing and manipulation. The image processor enables users to scan trade-related documents and attach them to a business case and/or send them together with messages and correspondence.;Statistics and Reports;A standard set of reports are provided and the bank can decide to supplement this by creating additional reports, using external query and reporting tools or the design mode. ;Audit Trail;For the purpose of audit and control, SmartStream Trade Finance maintains a modification log for each static data table, which contains a full history of all modifications made to each record sorted by version number. SmartStream Trade Finance can also protocol all relevant actions corresponding to pending transactions and their history and correspondence records in an event file. The System also maintains a detailed session log that contains information regarding log-on and log-off, execution of background jobs etc. All these logs may be printed.;and more...and more functionality!;SmartStream Trade Finance (Client Server and Mainframe versions) and SmartStream Trade Connect carry the SWIFT Ready Gold label