Citi Trade Portal
Trade Finance & Services Online Platform
Citi Trade Portal is a module of the CitiDirect electronic banking system. It enables its users to remotely manage transactions in the area of trade finance & services and ensures a smooth management of a company. Citi Trade Portal supports both classic and reverse factoring, supplier finance programs, export and import letters of credit, export and import collection and guarantees.
Citi Trade Portal:
- supports factoring, export & import (documentary) letters of credit, guarantees and export & import collection
- is available in Polish and English
- is integrated with CitiDirect and is available any time in the Single Sign-On mode
- for factoring it enables its users to:
- enter invoice details manually or by file import
- view invoice and application status details, updated online
- for guarantees, letters of credit and collection it enables its users to:
- enter data, supplement applications or copy previous applications
- send electronic applications to the Bank for consultation
- access information on submitted applications and the products granted
- generate a PDF file with a draft letter of credit in MT700 format to be presented to a contractor
- receive messages about transactions, events, or statuses by e-mail, text or platform announcement
Benefits:
For factoring services, Citi Trade Portal enables its users to:
enter invoice details into the system
- manually or by file import
- Clients may create their own import file formats – the Bank adapts itself to their file formats
send (payment/discount/financing) applications to the Bank
- cost control – Clients may check the costs they will incur in connection with a given application before it is sent to the Bank
- available limit checks – limits are updated online
receive completed feedback on their applications (statuses, reports, messages on the platform)
- application statuses – updated online
- flexible definition of the scope of a report (by adjusting the scope and timeframe of presented data)
- access to transaction cost reports
- detailed reports on factoring payments
- electronic invoices issued by the Bank are presented on the platform
- messages are fully configurable by the user
For trade finance products (i.e. letters of credit, guarantees and collection), Citi Trade Portal provides:
- libraries of contractors, banks and accounts – the user avoids entering the same details manually into subsequent applications
- an option to send to the Bank electronic applications to:
- grant or modify the terms and conditions of a guarantee or letter of credit
- verify the wording of a guarantee or a letter of credit
- prepare the wording of a guarantee in accordance with a template defined by the Bank or the Client
- with an option to enclose selected attachments to an application
- an option to deliver documentation and other correspondence prepared by the Bank to the Client in electronic format
- a possibility to send an application as a draft to be verified by the Bank
- access to check the granted and available limits of a revolving line
- access to check the application and transaction status
- flexible definition of the scope of a report (by adjusting the scope of presented data)
- e-mail messages to confirm that a product has been granted or correspondence has been sent by the Bank
