Tuesday , 16 January 2018
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New trade finance portal

Abu Dhabi Commercial Bank (ADCB) has launched ProTrade, its online trade finance platform, allowing customers to manage their trade

Abu Dhabi Commercial Bank

transactions from anywhere at any time.

The new portal, part of ADCB’s EasyTrade suite of products and services, has been designed to enhance customers’ businesses with a norestriction system enabling importers and exporters to pay and get paid for the goods and services they buy and sell internationally.

The new system offers clients quicker turnaround time and increased productivity by providing the opportunity to initiate transactions, as well as receiving notifications, from ADCB 24 hours a day seven days a week.

In short, ProTrade allows clients to manage completely online all their import and export letters of credit, bank guarantees and other trade finance services, receive information on status of transactions in real time or via email and ensure complete security of access through ProTrade using secure 32-bit encryption.

Colin Fraser, head of wholesale banking at ADCB, said, “We have now cemented our position as a leading trade finance bank with the ability to offer users of international trade products a leading online system to process their transactions.

“Traditionally, these services are delivered to the clients via courier, e-mail and personal collection or delivery, which we all know can be cumbersome and causes time delays. With ProTrade, clients access a dedicated channel that allows them to manage their trade business online and execute their transactions instantly.”

The new system, which also has a series of templates for clients to use for standard transactions, allows clients to retain a library of data relating to previous transactions, saving process time.

“The effective allocation of time is at the heart of any business, large or small. We recognise the importance of enhancing trade finance solutions to free up our clients time by introducing ProTrade, which allows them to focus on other key areas of the business,” Fraser concluded.

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