California's BizCurrency has announced the completion of alpha-testing for its international finance product, TradeEnabler. The system has been trialled in association with local independent business bank, Imperial Bank.
Part of BizCurrency's 4fi product suite for automating back office processing, TradeEnabler automates the letter of credit, bill presentment and documentary collections process.
"The ability for the customer to select a processing bank that differs from his credit bank enables all banks, regardless of size, to participate in international financing," says Herve Lacorne, BizCurrency CEO. "TradeEnabler assists the community bank in retaining its customers' credit and relationship without investing in an extensive back office. Larger institutions can reduce their credit exposure while still performing banking services for their correspondent banking relationships."