New Oracle Trade Finance and Supply Chain Finance cloud services are empowering banks to provide corporate and small- and medium-sized enterprise (SME) clients faster access to financing through streamlined trade processes. Oracle has introduced these new cloud services to unify operations and help manage the entire trade and supply chain finance lifecycles. The new trade finance service enables banks to streamline, automate, and manage trade finance operations across geographies and currencies, improving operational efficiency and visibility. The new supply chain finance service enables the full lifecycle and factoring across receivables and payables, offering supplier-centric and buyer-centric financing. 

By modernizing these corporate banking functions, banks can accelerate underwriting processes, improve regulatory compliance management, reduce physical documentation, and more effectively prevent fraud. In addition, the new digital self-service capabilities provide corporate clients the ability to initiate transactions and get real-time updates, including the ability to transparently track the progress of their finance requests, manage collateral, and get a real-time view of limits utilized, leading to a better customer experience. Corporates can also digitally onboard their counterparties as part of a tailored supply chain finance program with automated Know Your Customer (KYC) checks. This helps inject liquidity across the value chain for more financial flexibility and to enable banks to offer add-on services to the trade ecosystem.

"Trade finance and supply chain finance demand a resilient and agile technology foundation, one that can adapt to the inherent volatility of global commerce," said Sovan Shatpathy, senior vice president, product management and development, Oracle Financial Services. "Our next-generation cloud solutions are purpose-built to transform how banks manage the full trade lifecycle delivering faster execution, greater operational efficiency, and enhanced transparency by harnessing the scale and intelligence of the cloud."