The Bank of New York (BNY) today announced the release of BNY Trade Workstation, the latest version of its import letter of credit software.
can use BNY Trade Workstation to access information concerning their letters of credit processed around the world. The technology is designed to enable customers to input and transmit applications and instructions for letters of credit, to monitor letter of credit activity, and to generate reports via
the Internet using one comprehensive and flexible solution.
Advanced features of BNY Trade Workstation include purchase order processing, integration with ERP systems through F.A.S.T. Processing L/C, access to document images during discrepancy resolution and user-friendly customized reporting. BNY Trade Workstation is written in Java, is J2EE-compliant and is designed to meet the high volume demands of the largest importers.
Howard Bascom, managing director and head of The Bank of New York’s Global Trade Financial Services Division, said, “Our import customers will be able to use BNY Trade Workstation to create real efficiencies in their
international sourcing operations.
In addition, BNY Trade Workstation can be privately labeled for our bank customers, who will then be able to offer it to their corporate customers under their own brand.”
The Bank of New York is a major provider of trade service products around the world. In addition to its U.S. processing centers, the Bank has overseas trade operations in Hong Kong, Seoul, Tokyo, Shanghai, Singapore, Taipei, Frankfurt and London.