AFFINMAX eTrade: Facilitating Online Trade Finance & Services
The recently concluded COVID-19 pandemic underscored the importance of business resilience and digital transformation for the continued survival and sustainability of businesses. Affin Bank recognises the pressing need for digital transformation in trade financing and services to support Malaysian businesses while embarking on their digital journey. As a result, AFFINMAX eTrade service, an innovative web-based trade finance service with a range of trade finance products, was introduced to help businesses achieve their working capital needs efficiently and streamline their daily trade transactions with uninterrupted services.
The range of trade finance products and services under AFFINMAX eTrade encompass import trade solutions that support pre-shipment and working capital requirements (E.g. Documentary Credit, Trust Receipt, Banker’s Acceptance-Purchase, Shipping Guarantee, Advance Endorsement, Inward Bills for Collection, and Flexi Trade Loan-Purchase), export financing solutions that improve cash flow and mitigate export risk (E.g. Banker’s Acceptance-Sales, Bills Purchased/Discounting, LC Negotiation, Outward Bills for Collection, Documentary Credit Advising/Confirmation, Export Credit Refinancing, and Flexi Trade Loan-Sales) and Bank Guarantees that gives assurance to your business counterparts when it comes to meeting contractual obligations.
The AFFINMAX eTrade service comes with several advantages and benefits. Firstly, it allows customers to securely initiate and complete trade finance applications online. This eliminates the urgency of preparing for manual paperwork and physical visits to the bank. Once the transactions have been approved and completed by the bank, customers can instantly receive credit or debit advice for their reference and compilation.AFFINMAX eTrade service reduces the processing time of trade finance applications as a result of automated systems, online document submission, and streamlined workflows. This allows customers to obtain the necessary financing promptly, thereby improving their cash flow and trading activities.
In addition, the AFFINMAX eTrade service provides customers with real-time monitoring of their trade finance transactions. Customers can track the progress of their applications and access their transaction history conveniently through the AFFINMAX platform. Correspondingly, AFFINMAX eTrade users can check their up-to-date facility limits, trade product outstanding transactions and account activities using the AFFINMAX platform.
The AFFINMAX eTrade service is also simple and user-friendly. Customers with trade finance facilities just need to subscribe to the AFFINMAX eTrade Transaction Module when applying for AFFINMAX Corporate Internet Banking. Upon successful subscription and access granted, customers can submit their trade finance applications online at their own convenience. A user guide in both written and video versions is made available for customers’ easy reference via https://www.affinalways.com/en/online-trade-services-etrade.
By using the AFFINMAX eTrade service, customers can improve their overall business process efficiency when it comes to both domestic and international trade financing.Prospective AFFINMAX applicants may choose to apply either in person at any Affin Bank branch, or online via https://www.affinalways.com/en/sme-enquiry-form, whereby a dedicated team will respond within 3 working days.
For more information on how AFFINMAX eTrade services can help businesses with online trade financing, call Affin Bank’s Customer Service hotline at +603-8230 2222 or email customercare@affingroup.com with your inquiry or request for more information. Alternatively, visit the Bank’s website at https://www.affinalways.com/en/affinmax-cash-management.
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