A new innovative digital solution designed to track import and export documentary!
Digital technology at the service of Natixis CIB clients
The Covid-19 health crisis has accelerated the digital transformation of many companies with the arrival of new digital solutions to meet their needs. The trade finance sector, an activity offering security and financing for international trade and mainly based on paper with multiple parties involved - shipping companies, banks, insurance companies, government agencies, etc. is a perfect example.
Following the widespread use of electronic signatures for documents exchanged with clients from the start of the containment period, the Global Trade department has developed a dedicated tool for tracking documentary credit transactions for its corporate clients.
As the documentary credit circuit is complex (in several stages, over several days and involving several stakeholders), and by its very nature difficult to track, this digital solution aims to increase the client's visibility of the processing of his/her transaction in a rapid and simplified manner.
Like a digital parcel tracking service, our tool enables Natixis CIB clients to track the status of their documentary credit in the chronology of events (request for issue, amendment, use, document control, payment, etc.) using the reference number of their transaction.
Today, the solution covers import and export letters of credit, but will be extended to include documentary remittances and domestic and international guarantees.
User experience at the heart of Natixis CIB
This dedicated portal meets four customer needs: autonomy, immediacy, ease and ergonomics. The user experience was put at the centre of the product's design with the help of large corporate clients. This collaboration was a key factor in the design of the product: together they were able to design, test and correct the solution quickly and finally put a Minimum Valuable Product (MVP) into production. The solution was built to evolve over time in order to bring even more added value to its customers.