Dubai Bank goes live with new trade finance system in record time

Dubai Bank, a Dubai Group company, has announced its successful implementation of a new automated Trade Finance System, namely Trade Innovation - in a record time of only four months. Trade Innovation provides customers with an online platform to process requests relating to trade services, such as letters of credit or guarantee facilities. The new system will significantly speed up transaction and turnaround times for trade finance customers and will provide them with real-time verification and up-to-date information regarding the progress of their requests. Dubai Bank's Chief Information Officer, Faizal Eledath said, "Trade Innovation has been implemented to create a high-quality and process-driven environment that involves systems, processes, and people under the guidance of a formal quality management system".... [read full story]