E-Commerce and Trade Services (Middle East) L.L.C. (ECTSME), the premier service provider located in Dubai is highlighting the benefits of its outsourcing solution for Trade Finance Operations in the MENA region at GITEX 2005. ECTSME is a joint venture between Emirates Bank International and E-Commerce & Trade Services, Ltd.
Senior management from banks and finance houses across the region are given an end-to-end demonstration of ECTSME’s state-of-the-art solution at the Emirates Bank stand in Hall 5, GITEX Dubai.
Naushad Kermali, Director E-commerce & Trade Services (Middle EAST) L.L.C. said, “ECTSME is a relatively new service provider to the region, and GITEX provides us with an opportunity to increase the visibility of our offering, which is the first of its kind in the MENA region. The ECTSME Trade Finance Processing Solution uses workflow, scanning, imaging and bar-coding technologies to provide a scalable and customizable Trade Services Platform that automates the full range of in-sourced trade finance activities and allows for paperless processing. The processing of trade finance documents like Letters of Credit, Guarantees and Documentary Collections is done using scanned images. Our paperless environment helps us streamline our operations and maintain optimal throughput.”
“Apart from the lower transactional cost through economies of scale, the automated solution provides efficiency and productivity gains for customers. Additionally, it releases client resources allowing the business to focus on strategic areas of expansion. While outsourcing trends in the Middle East are less pronounced than in other parts of the world, the practice is catching on due to its enormous benefits,” Kermali added.
ECTSME’s Dubai operations, equipped with state-of-art technology and a multi-bank platform, provides a fully integrated and customized solution that caters for all trade finance products. The organization’s experience in the Middle East holds it in excellent stead to serve the trade finance processing needs of the MENA region.
Graham Clarke, General Manager, ECTS, said, “ECTSME places enormous emphasis on customer service and delivery and strives to build and maintain a strong relationship with its in-sourced partners. Trust and transparency are paramount when outsourcing to an external partner and ECTSME provides its customers with internet-based real-time access to their data, images of documents and management information reports.”
About ECTSME
E-Commerce & Trade Services (Middle East) L.L.C. (ECTSME) is a Joint Venture company established in 2001 by E-Commerce & Trade Services, Ltd (ECTS) and Emirates Bank International PJSC (EBI).
ECTSME' processing center in Dubai, United Arab Emirates, provides a fully integrated and customized solution that caters for all trade finance products. ECTSME is well positioned to in-source and attend to the trade finance needs of banks in the Middle East and North African regions (MENA).
ECTSME is located in a 10,600 square foot grade A office in Al Mussalla Towers, a commercial building situated on the city's "Bank Street", Dubai. The facility provides for in excess of 125 workstations and is equipped with state-of-the-art technology for managing multi-bank trade services business. This includes dual redundant internet-paths providing global connectivity, point-to-point IPLC links, server farms, high-speed switched network and a power back-up system.
