Increasingly, banks, buyers, sellers, insurance companies and logistics companies are joining hands to find solutions. On the one hand, banks are setting up operation centres to centralise Letters of Credit, Document Collection, Letters of Guarantee etc with a view to enhancing efficiency and professionalism, and reduce costs and operation risks.
They are more and more offering non-traditional services which may include sophisticated imaging technology that can assist with dispute and discrepancy management coupled with data storage, insurance products, document preparation services, cash flow modeling etc.