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RPA Use Cases

TRADE FINANCE

Automate your trade finance processes like data entry, bill of entry, letter of credit closure, etc. with RPA

Robotic Process Automation (RPA) in Trade Finance Use Cases
Data Entry Process using Robotic Process Automation (RPA) Use Case

Data Entry Process

Auto-verify the documents submitted by the exporter such as invoice, shipping bills, transport papers, etc. Auto-verify if all documents have been submitted, with consistency of information, regulatory checks, Anti Money Laundering screening checks, etc.

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Bill of Entry Updation using Robotic Process Automation (RPA) Use Case

Bill of Entry Updation

Auto-update the bill of entry for all export and import cases irrespective of the value, as per the new regulatory guidelines. Manage the one-time updation for historical cases.

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SWIFT Validation using RPA Robotic Process Automation Use Case

SWIFT Validation

Create automatic alerts for all pending transactions on inward remittances on pre-defined days after the transaction date. This is sent to the foreign bank through the SWIFT alliance.

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Internal Payment Process using RPA Robotic Process Automation Use Case

Internal Payment Process

Ratify if all internal payments have been correctly executed in terms of the amount, especially the ones that are due on that day.

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XLC Advising Process using RPA Robotic Process Automation Use Case

XLC Advising Process

Auto generate the upload file as per the AMLOCK (Anti Money Laundering and Fraud Detection application) application format for Inward LC related messages for name screening, which helps in determining if any new / existing customer or the counter parties are part of any regulatory risks.

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Interest Rollover using RPA Robotic Process Automation Use Case

Interest Rollover

Post an auto-extension request for the bill tenor for a further period not exceeding 360 days each (or a rollover request) at the end of each period until the final maturity from issuing bank to the nominated bank. Send the rollover request at least 10 business days prior to principal bill maturity period. This is the Rollover Inland Lodgment Interest Bill Automation & SFMS (Interest Rollover) process automation.

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FIBG 30 Days SWIFT Report using RPA Robotic Process Automation Use Case

FIBG 30 Days SWIFT Report

Generate dumps for discrepant Bank Guarantee (BGs) that are in the parked queue. Auto-filter BGs pending for more than 15 days and 30 days from the report. The Foreign Inward Bank Guarantee (FIBG) 30 Days SWIFT Report process sends a reminder SWIFT to the forwarding bank if the BG is pending for less than 15 days, and a null and void SWIFT, if the BG is pending for 16 to 30 days. This is the FIBG 30 Days SWIFT Report process that automates this processing of SWIFT transactions to the customer.

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Trade Finance Amount Reversal using RPA Robotic Process Automation Use Case

Trade Finance Amount Reversal

Auto-reverse the commission fees on bank guarantee as well as bank settlement charges and commissions along with the service tax. This results in reversing the liability into the banking books and also book related profit into different businesses.

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Letter of Credit Closure Process using RPA Automation in Trade Finance - Use Case

Letter of Credit Closure

Automatically handle the payments due and the closure of the Letter of Credit on the specified date which is 45 days from expiry.

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Bank Guarantee Closure implementation using RPA Use Case in Trade Finance

Bank Guarantee Closure

Auto-close the Bank Guarantees which have expired after which 21 days have lapsed from the date of claim expiry. For certain specific guarantees with strict clauses, get standing instructions issued for the collection of monthly commission after expiry.

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RPA Use Case for Daily LC Report In Trade Finance

Daily LC Report

Ratify if all the payments have been correctly executed in terms of the amount, especially the ones that are due on that day for Letters of Credit.

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DOWAR Instructions - Robotic Process Automation (RPA) Use Case

DOWAR Instructions

Auto-recover the commission periodically on bank guarantees issued in favor of government departments even after expiry as per the Domestic Outward Guarantee Auto Renewal process.

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Federal Bank Reports using Robotic Process Automation (RPA) - Use Case

Federal Bank Reports

Update all bank guarantee and claims details on a daily basis. Run all the collated data through various macros and formulas to prepare a detailed quarterly Federal Bank Senior Supervisory Manager (SSM) report.

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Non-Discrepant Document in Trade Finance using Robotic Process Automation (RPA) - Use Case

Non-Discrepant Document

Auto-generate SWIFT messages within 5 days from the date of receipt of documents on release or refusal of payment in compliance with Uniform Customs and Practice for Documentary Credits (UCPDC) provisions.

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MT 940 Checks in Trade Finance using Robotic Process Automation (RPA) - Use Case

MT 940 Checks

Auto-execute Import LC payment i.e. TT / PDN as per the LC terms. On T+1 day, check whether for a particular import payment if it has been debited from Nostro account and ensure that there are no errors such as duplicate debits, etc. The MT 940 Checks process helps verify the MT 940 dump against the daily file.

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SWIFT Return Fund - Use Cases of RPA in Trade Finance

SWIFT Return Fund

Update the correspondent banks through a SWIFT message with the complete details of the funds being returned on a daily basis.

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Email Updating Using RPA Robotic Process Automation Use Case in Trade Finance

Email Updating

Auto-extract emails for a customer from the Excel file in pre-configured batch size and update the core banking system.

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Automated Recoveries - Use Cases of RPA in Trade Finance

Automated Recoveries

Auto-process inland bills related to trade for collection / discounting in core banking system in an end-to-end manner.

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Banker's Guarantee (BG) Advising - RPA in Trade Finance Use Case

Banker's Guarantee (BG) Advising

Retrieve BG related data from the system and convert into formatted Word file for verifying authenticity of the BG.

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RPA in Trade Finance Use Case - Bill of Exchange (BoE) Settlement

Bill of Exchange (BoE) Settlement

On a daily basis, execute BoE settlement procedures based on statutory guidelines. Capture the required and mandated details and upload these details in the core system. Modify and correct failed cases.

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RPA Automation for Outward Remittance process in Trade Finance Use Case

Outward Remittance

Read data related to outward remittance from the input source and insert in the core banking system.

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Data Extraction & Updating - Trade Finance RPA Use Case

Data Extraction & Updation

Retrieve details such as Cost Insurance and Freight (CIF) as well as Unique Identity Number (UIN) related data from input source and update in core banking site.

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Trade Finance Compliance Maker Checker

Trade Finance Compliance Maker Checker

Retrieve details from input sources and make an uploadable copy. Run through the checker profile for any discrepancies. Upload to core system if all parameters are alright, else route the discrepancy to the concerned stakeholders.

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CRM Dump Processing - Use Case of RPA in Trade Finance

CRM Dump Processing

Retrieve the customer data for specific regions from CRM system at a predefined frequency and take it to next stage of processing.

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Dollar Accountability Group (DAG) Confirmation

Dollar Accountability Group (DAG) Confirmation

Automate the DAG related processes. Validate the trade data in the financial risk management system and customer relationship management system to check the transaction authenticity and move the data to the next stage of processing.

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Daily Deals - RPA in Trade Finance Use Case

Daily Deals

Auto-create summary based on specific buckets related to daily business deals.

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EDPMS Bills Outstanding - RPA in Trade Finance Use Case

EDPMS Bills Outstanding

Auto-download data from Export Data Processing and Management System (EDPMS) and send it to respective customer.

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Export Bills Outstanding - RPA in Trade Finance

Export Bills Outstanding

For each CRM service request, auto-open the data files, extract the data under the required fields in a new excel file by using RPA bots. Filter the data for the given customer id, paste in a new Excel file, attach the same file in service request and close with remarks “Attached details are for total bills outstanding for this customer code”.

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First Raising - Use Case of RPA in Trade Finance

First Raising

Auto login the NRI speed remittance, validate and rearrange the text of transactions related to first raising. This is India specific process. 

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Letter of Credit Reimbursement - Use Case of RPA in Trade Finance

Letter of Credit Reimbursement

Access the banking application and auto-pick data with respect to all inward swift messages with MT742 (swift message type sent by the paying/negotiating bank to the bank authorized to reimburse the Sender for its payments/negotiations) pertaining to a date range where the “to date” will always be populated as current date and the ‘from date’ shall be input by the user. Auto-populate the different fields according to pre-defined RPA logic.

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EDPMS BoE Service Request Details

EDPMS BoE Service Request Details

Go to Export Data Processing and Management System (EDPMS), retrieve Bill of Exchange (BoE) service requests and after processing generate the specified output.

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Importer Exporter Code Validation using DGFT site

Importer Exporter Code Validation using DGFT site

Auto-login to the Director General of Foreign Trade (DGFT) site. Validate the importer exporter code by downloading different statutory reports and filtering the data with Vlookups.   

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Input File Letter of Credit Advising

Input File Letter of Credit Advising

Download letter of credit data from business applications for MT 700 (a special swift message type used by banks when issuing a letter of credit) and extract proper data in an organised format, that is correspondent-sender, receiver, beneficiary name, etc.

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International Scanning Report

International Scanning Report

Read and merge data from all international geographies for the entire month from all closed dumps and open dumps to the last date of the month to create a single report.

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RPA Automation for International Trade Report

International Trade Report

Filter out the data in text file as per pre-defined business logic and export it into word document format by using RPA bots. After process completion, generate two output files in the specified path in the current date folder.

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Logical Access Management Request Approver in Trade Finance

Logical Access Management Request Approver

Automate the Logical Access Management (LAM) based process. Approve the LAM request for second approver with RPA bots for pre-specified threshold of trade amount.

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Letter of Credit Advising - Use Case of RPA in Trade Finance

Letter of Credit Advising

Automate the Excel sheet based process for files that are received through email. Auto-create letter of credit summary based on the email and improve turnaround time.

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Letter of Credit Validation - Use Case of RPA in Trade Finance

Letter of Credit Validation

Auto-retrieve the the 595 MIS dump and cross verify with core banking application through the Inward Documentary Credit Maintenance and Outward Documentary Credit Maintenance options.

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Liberalized Remittance Scheme Summary Reporting

Liberalized Remittance Scheme Summary Reporting

Liberalized remittance scheme (LRS) summary reporting is an Excel sheet based process. Auto-create summary based on keywords required.

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Limit Tracking System & Core Banking Reconciliation

Limit Tracking System & Core Banking Reconciliation

Reconcile data between limit tracking system (LTS) and core banking application with RPA bots.

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Maker Checker Process  - Use Case of RPA in Trade Finance

Maker Checker Process

In this core banking application based process, take inputs from NRI speed remittance site and upload the massaged file in the core banking system after running through the checker bot. This is India specific process.

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Negative List - Use Case of RPA in Trade Finance

Negative List

Automate the process of retrieving negative listing of trade entities. Log in to trade finance business applications such as NRISR, STIR, SMSA, etc., find out transactions that fit in the pre-defined negative listing conditions, and extract the information in an Excel sheet.

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Omni-flow Limit Blocking - RPA in Trade Finance Use Case

Omni-flow Limit Blocking

This process involves the helpdesk and limit blocking system. Take the service request to self tray, verify in the trade finance related systems such as limit tracking system, and then block the limit.

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Unique Identification Number Validation in Trade Finance using RPA Automation

Unique Identification Number Validation

Auto-retrieve UIN and related data from input source, search in the trade finance related site, and populate name of owners.

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Rejection Tracker - Use Case of RPA in Trade Finance

Rejection Tracker

Automate the trade finance related application, such as STIR and core banking application based process that involves rejection cases. Retrieve data from the systems in an Excel sheet.

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Service Intermediary Verification in Trade Finance - RPA Use Case

Service Intermediary Verification

Automate the service intermediary verification with the help of MIS 3418 files (Excel dump files) and RPA bots generating the filtered desired data.

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Structured Financial Messaging System Automation

Structured Financial Messaging System Automation 

Automate Structured Financial Messaging System (SFMS) related processes. Segregate all bank guarantees in Word files and capture the reference numbers in an output Excel file.

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SMSA Message Counter - RPA in Trade Finance Use Case

SMSA Message Counter

Automate the sheet based processes related to trade finance related applications such as SMSA. Auto-create a data summary by extracting information as per pre-defined logic.

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Transaction Assignment- RPA in Trade Finance Use Case

Transaction Assignment

Automate the transaction assignment by using RPA bots in trade finance related systems such as STAR.

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Customer Classification Reports in Trade Finance Use Case

Customer Classification Reports

Combine the data from multiple input files, which involves extraction of data from different databases such as Oracle, MS SQL, etc. Filter the files on the basis of predefined customer classification parameters to create different Excel file reports, and upload them to CRM.

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Review Renewal Data - RPA in Trade Finance Use Case

Review Renewal Data

Perform data massaging and combine data from different input files, which involves extraction of data from MIS systems. Subsequently, calculate “Renewal Pending Since (Days)” in “Final Output File”, and upload in CRM system.

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Limit Tracking System (LTS) MIS Files in Trade Finance - RPA Use Case

Limit Tracking System (LTS) MIS Files

Take multiple LTS MIS files as input files, use RPA bots to Vlookup the required data, and export into the Excel output file.

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Limit Tracking System (LTS) Discarding

Limit Tracking System (LTS) Discarding

Block the limits for different countries by using bots with the LTS system. Sometimes users do the wrong entries. Discard those wrongly done entries with RPA bots, which go to the LTS system and search the tracking number and discard entries.

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Enforcement Directorate (ED) Query

Enforcement Directorate (ED) Query

Select input in PDF / HTML format. Perform different operations like converting PDF to Excel; converting PDF to Excel based on master keyword input files and output files containing only keyword records; and converting PDF to Excel based on master keyword input files and the output files not containing any keyword records. This is India specific process.

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IPBS & Core Banking System Reconciliation

IPBS & Core Banking System Reconciliation

Create reports from core banking system, international private banking system (IPBS), and related SWIFT transactions by using RPA bots. Auto-generate a plethora of diagnostic reports and revenue reports based on pre-defined business rules and conditions to curb money laundering. Auto-reconcile data and generate the final report.

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Foreign Payments & Others - RPA in Trade Finance

Foreign Payments & Others

Automate trade finance processes using RPA bots spanning direct debit cancellation, account closures, clearing house automated payments (CHAPS), foreign payments, audits reports, internet applications, card and PIN Pulls.
Make phenomenal savings in terms of time with audit being conducted in a single minute as compared with 6-7 hours manually.

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Fetch Data from Promissory Notes - RPA in Trade Finance

Fetch Data from Promissory Notes

Use RPA bots to ingest data from promissory notes by using intelligent data capture and transfer the data to the core banking system using RPA bots.

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Audit Operations And Reporting in Trade Finance - RPA Use Case

Audit Operations And Reporting

Auto-download thousands of documents from multiple source systems to a standardized shared drive and auto-extract the required information. With the help of automation, use fewer access rights and reduce the risk of business data being lost, compromised, or accessed by unauthorized users.

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What you get:

A list of 100+ banking processes that can be automated with RPA

RPA use cases across Retail Banking, Corporate Banking, Direct Banking and Trade Finance

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