Dubai Bank automates trade finance

Dubai: Dubai Bank on Saturday announced the implementation of a new automated trade finance system, Trade Innovation - in only four months.

Trade Innovation provides customers with an online platform to process requests relating to trade services, such as letters of credit or guarantee facilities.

It will speed up transaction and turnaround times for trade finance customers.

Dubai Bank's chief information officer, Faisal Eledath said, "Trade Innovation will help create a process-driven environment involving systems, processes, and people under the guidance of a formal quality management system."