Latest News | Business Brief *Union Bank Launches Platform for Cross-border Trade Finance Services

Mumbai, May 11 (PTI) Public sector lender Union Bank of India on Wednesday launched an online platform for providing comprehensive cross-border trade finance services to Indian exporters and importers.

The platform 'Trade nxt' offers seamless entry and processing of Letters of Credit (LC), bank guarantees, export/import bills, disbursement of export credit, outward & inward remittances and dealer financing, among others, a press release said.

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It enables corporates as well as MSMEs to perform all cross-border export-import transactions in a hassle-free way as it offers an array of services in one place, which eliminates the need for companies to visit a bank branch to initiate a trade transaction and ensures better governance with enhanced security and controls, the release said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)