BoNY "Imports" Letter of Credit Software

February 11, 2003 ( - The Bank of New York has released a new software product tailored to the banking needs of the international trade industry.

BNY Trade Workstation is being offered to importers to provide access to information concerning the processing of their letters of credit around the world and other banking aspects of their international trade business. The product is designed to enable customers to input and transmit applications and instructions for letters of credit, to monitor letter of credit activity, and to generate reports via the Web.  

Additionally, Workstation includes features designed to manage purchase order processing, integration with ERP systems, access to document images during discrepancy resolution, and customized reporting, according to a news media release.

The Bank of New York is a provider of trade service products around the world. In addition to its US processing centers, the Bank has overseas trade operations in Hong Kong, Seoul, Tokyo, Shanghai, Singapore, Taipei, Frankfurt and London.