· Case Studies · 2 min read
Streamlining Inward Remittance Processing
Receiving and Processing Customer Instructions to settle the Inward Remittances
Problems and Needs
The existing process for handling Inward Remittance lacks efficiency. Users are unable to mention multiple purpose codes, process Collection or Export Letter of Credit bills, and close shipment loans within a single transaction. This leads to a disjointed user experience and inefficiencies in transaction management.
The bank identified the need for a unified screen where customers could provide all necessary details for a single Inward remittance, simplifying the transaction process.
Key Benefits
- Efficiency: Users can complete the entire lifecycle of a single Inward remittance transaction without navigating multiple screens, improving operational efficiency.
- Detailed Transaction Information: Customers can specify the purpose of payment received and indicate whether it pertains to OCF, Export Letter of Credit (ELC), or a loan, enhancing transaction clarity.
Solution
The solution integrates Inwards Disposal with both the frontend and backend of trade operations. Customers seamlessly access the system through trade portal and navigate to our solution to access the Inwards disposal options.
The system fetches bills or loans from the trade backend for user selection. Based on the user’s purpose code selection or bill preferences, single or multiple transactions are created in the trade backend. Upon completion of the transaction, users receive a response confirming the transaction status.
Timeframe
The implementation of this solution spanned 6 months, from inception to completion.
