Q.

What does a bank gain through the use of elcyMBP?

Answers

  1. The most effective solution for multi-banked corporate clients
  2. Greater visibility and control
  3. Monitor real time exposures and reduce risk
  4. System efficiencies and cost savings
  5. Minimum disruption to existing business
  6. Extensive additional functionality
1

The most effective solution for multi-banked corporate clients

elcyMBP is the premier multi-banked solution for global corporates that need to communicate with multiple global banks for their day-to-day trade finance processing.

Standardised process
Instantaneous secure and authenticated communication between the bank and its clients replacing fax and email.

Standardisation of client communication across all trade finance products.

Documentary LCs, Standby LCs and Guarantees
Receive authenticated Import instructions from multi-banked clients through a single channel including LCs, Standby LCs, Guarantees and related amendments.
End to end transaction processing including:-

  • Claims and presentations.
  • Available balances and utilisations
  • Document attachments
  • Acceptances

Inward Collections
Notification to corporates of inward collections and receipt of settlement instructions from corporates.

Banks have the option to receive Import instruments in a variety of ways – either directly through the system or by SWIFT (including SCORE messaging where possible).

Documentary LCs, Standby LCs and Guarantees
Advise and authenticate Export instruments to multi-banked clients through a single channel including LCs, Standby LCs, Guarantees and related amendments.
Documentary presentations and utilisations
Acceptances

Outward Collections
End to end processing of outward collections including direct collections.
Acceptances

Banks have the option to transmit Export instruments in a variety of ways – either directly through the system or by SWIFT (including SCORE messaging where possible).

Messages can be linked to an original instrument (LC, Standby LC, Guarantee).

Includes free-format messaging, templates for standard instructions, filtering by department or message type, authorisation control, document attachment, batch releases and workflow control.

A secure, instantaneous, authenticated messaging system.

2

Greater visibility and control

One platform
Head Office group view and control across all branches.
Access the platform from any office or remote location.

Control workflow processes
User groups can be broken down into 3 types:

  • Front office – relationship/account managers
  • Middle office – position keepers
  • Back office – operations

Within these groups the system offers both client and department filtering.

Workflow connectivity can be especially useful when the respective groups are not located in the same branch office.

Full audit trail with all related amendments and messages held within each transaction.

3

Monitor real time exposures and reduce risk

elcyREPORTS module
Standard or user defined reports can be scheduled and delivered in csv/excel format.

  • Global reports provide real time information for Head Office by client.
  • Removes the need to maintain separate spreadsheets.

elcyEXPOSURE module
Real time management of global exposure to corporate clients.

  • 24/7 information across branches and departments giving consistent management data and control.
4

System efficiencies and cost savings

System efficiencies
More efficient digitised processing helps eliminate discrepancies, saving time and costs.

  • Centralised receipt of authenticated instructions and messaging for LC’s, guarantees and other trade finance related instruments streamlining processing.

Integration options
ELCY offers integration options via APIs.

  • An API allows data to be mapped directly into the bank’s own back-office system to achieve straight-through processing.
  • ELCY blockchain PoC demonstrates its ability to work with blockchain consortia.

System fees
Flat fee pricing with no transactional fees and no hidden costs.

  • All modules included as standard and regular updates in functionality and new features at no additional cost.
5

Minimum disruption to existing business

Web based SaaS system with no software installation required.

Minimal user training required.

Users will experience an easy to navigate and intuitive site.

24/7 helpdesk manned by experienced trade finance specialists.

 

6

Extensive additional functionality

elcyAUCTION
Receive and quote on pricing requests related to covering LC confirmation/discounting, corporate risk cover and invoice discounting.

elcyLOAN
Process and/or roll client trade loan requests either on a transactional or stand-alone basis.

White Label
Provide a hosted front end trade finance platform with the bank look and feel.
Handle both multi-banked clients and the bank’s own clients on one elcyMBP platform.

Syndication module
Lead Bank Syndication module within the elcyMBP product suite, covering corporate outstandings together with bank participation, functionality and reporting.
Hosted Lead Bank Syndication module. White label option with look and feel of lead bank.

Document Preparation
Handling of electronic and paper documentation is provided to corporates through ELCY’s partnership with essDOCS, including proprietary, third party and electronic documents.

To learn more or arrange a demo

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