E-Commerce and Trade Services Middle East showcases Trade Finance outsourcing prowess at GITEX

ECTSME is a joint venture between Emirates Bank International and E-Commerce & Trade Services, Ltd.

Senior management from banks and finance houses across the region are given an end-to-end demonstration of ECTSME's state-of-the-art solution at the Emirates Bank stand in Hall 5, GITEX Dubai.

Naushad Kermali, Director E-commerce & Trade Services (Middle EAST) L.L.C. said, "ECTSME is a relatively new service provider to the region, and GITEX provides us with an opportunity to increase the visibility of our offering, which is the first of its kind in the MENA region. The ECTSME Trade Finance Processing Solution uses workflow, scanning, imaging and bar-coding technologies to provide a scalable and customizable Trade Services Platform that automates the full range of in-sourced trade finance activities and allows for paperless processing. The processing of trade finance documents like Letters of Credit, Guarantees and Documentary Collections is done using scanned images. Our paperless environment helps us streamline our operations and maintain optimal throughput."

"Apart from the lower transactional cost through economies of scale, the automated solution provides efficiency and productivity gains for customers. Additionally, it releases client resources allowing the business to focus on strategic areas of expansion. While outsourcing trends in the Middle East are less pronounced than in other parts of the world, the practice is catching on due to its enormous benefits," Kermali added.

ECTSME's Dubai operations, equipped with state-of-art technology and a multi-bank platform, provides a fully integrated and customized solution that caters for all trade finance products. The organization's experience in the Middle East holds it in excellent stead to serve the trade finance processing needs of the MENA region.

Graham Clarke, General Manager, ECTS, said, "ECTSME places enormous emphasis on customer service and delivery and strives to build and maintain a strong relationship with its in-sourced partners. Trust and transparency are paramount when outsourcing to an external partner and ECTSME provides its customers with internet-based real-time access to their data, images of documents and management information reports."