Global Trade Service
GTSnet is Cibar's client-server, back-office, trade finance system, which can scale in size from a small regional bank to a global trade bank. It is the culmination of 40 years of experience in designing and developing trade finance automation software.
Cibar's depth of experience in conjunction with the latest computer technology available has provided a highly advanced, flexible Trade Finance software solution that is unique in the marketplace.
GTSnet is a totally integrated system that allows for all types of Trade Finance transactions including Imports, Exports, Standbys, Guarantees, Documentary Collections, Cash Letters, Foreign Currency Payments, and Bankers' Acceptances. All of these transactions share a common database separated by legal entity to provide for segregated reporting and in-sourcing.
GTSnet has been designed and developed with the end-user in mind. Data entry is flexible and straight forward with the Windows Graphical User Interface (GUI) providing immediate feedback on what has been entered, what is incomplete, requiring further attention, or ready to approve.
The GTSnet user interface designed from the start to, only, permit the entry of correct data choices by the Trade Service Representative (TSR). This is accomplished by dynamically tailoring the drop-down lists to only show values which are acceptable for the type of transaction being worked on, and which are appropriate for the selected customers and banks.
GTSnet automatically tracks all events in the lifecycle of a Letter of Credit, Bankers' Acceptance, etc. This insures that the Trade Service Representative has immediate access to all historic information allowing him or her to view exactly what was entered or changed on each transaction during the letter of credit's life. In addition, all data received and all output created by the system can be recalled, reprinted, and resent by the TSR.
The GTSnet system allows the bank to establish its fees by legal entity thereby providing for different fee schedules for different entities, or in-sourcing agreements with other banks. It allows the bank to indicate if a fee is to be taken now, deferred until the next drawing, or billed to the customer. It also provides for periodic fees with FASB 91 compliant accruals, FASB 45 income projections, and customer specific variations of all fees.
GTSnet easily supports the definition of participation and syndication agreements. Once the TSR identifies the agreement that the letter of credit falls under, the system will automatically produce all of the participation accounting and fee tracking. It also automatically links the customer's payment of a shared fee under a participated credit to the disbursement of the participants' share of that fee. In addition, if later on the participation agreement changes, the TSR only needs to modify the agreement in the system and it will automatically re-adjust and re-post all the liability changes required for all credits issued under the agreement.
The result of all these technical and business features is a complete processing environment that supports trade finance transactions throughout their entire lifecycle with minimum effort on the part of the Trade Service Representative, while allowing the bank to manage its risk, adapt products to new markets, and compete in the highly competitive, price sensitive Trade Finance marketplace.