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Minacs launches TradeFree NGen tool for Trade Finance

62Global business and technology outsourcing company Minacs has launched a trade finance focused, next generation back office solution, TradeFree NGen recently at Technoviti 2015. Leveraging on 3 decades of domain knowledge, innovative technical expertise and best practices, Minacs has designed the

solution that puts the control in the hands of the end user. The product received many prestigious awards including Banking Frontiers Technoviti 2015 award in innovation category.

A feature rich TradeFree NGen helps financial institutions to manage trade finance activities more effectively and efficiently. Customers can reap the dual benefits of reduced transaction cycle times and access to accurate information. The end-to-end trade finance transaction processing solution bundles business functionalities for corporate and banks. The wide range of functionality support includes Documentary Credit, Domestic Trade, Collections & Remittances, Export Credit Refinancing, Loans (Pre/Post shipment), Buyers Credit, Payments and more.

The new NGen product provides full package of tools so that corporates can gain better control of their international trade flows, reduce risks associated with cross broader trade, improve cash flows and achieve processing efficiencies. It is designed to help improve efficiency, reduce expense and mitigate risk. Some of the salient features are

  • Event driven business process management – allows you to configure workflows for changing business needs using a designer and business friendly user interface
  • Enables you to change business rules using English like commands in MS Excel to meet dynamic business needs
  • Responsive UI – provides consistent customer experience on variety of channels
  • Transaction Status Monitor – offers transparency and visibility of the entire transaction life cycle
  • Product Configurator – helps to introduce additional fields to capture extra information in transaction without code change
  • Detailed Triage – not only know the point of failure, but also solution to resolve
  • Dynamic Report Engine – design and generate your own Adhoc reports on demand
  • Integration connector with standard patterns and protocols. With pre-built support for SWIFT and Bolero
  • Security (OWASP compliant) and Complete Audit trail

Minacs’ TradeFree NGen solution brings powerful benefits including:

  • Access to real-time, ‘up-to-the-moment’ information
  • Automation of routine and mundane manual operations
  • Improves productivity and efficiency with automated workflows and by eliminating non-value added processes: thus enhancing business from your customers
  • Increased follow-up and tracers resulting in better CRM
  • Better customer service, improved image and brand equity: helps in retaining existing customers and attracting new ones
  • Powerful decision support system: be proactive to the changing needs of customers
  • Reduction in transaction costs and stationery costs
  • Automated generation of reports meeting RBI’s EDI regulatory requirements

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