Trade solutions vendor China Systems, which has increasingly focused on anti-money laundering (AML) functionality in recent years, has won recognition from one of the trade finance industry’s leading publications.

China Systems has been voted 2014’s best trade finance software provider in the recent Leaders in Trade Awards awarded by Global Trade Review (GTR).

AML features
The solutions vendor says that the award is down to its end-to-end trade finance system, Eximbills, which has incorporated increasingly more sophisticated AML features in recent years.

This is China Systems’ seventh year as winner in this category since it was introduced in GTR’s annual competition in 2006, indicating the company’s long-running leadership in the industry.

Watch list filtering
In 2012, China Systems strengthened its AML focus by entering into an alliance with FircoSoft, one of the industry’s recognised providers of watch list filtering solutions.

That alliance provided real-time filtering of trade finance transactions with a new plug-in connector to Eximbills that enabled users to fulfil AML requirements whilst undertaking other banking functions such as document scanning, review and processing, checking of credit availability and posting of relevant accounting entries.

Categories: Trade Based Financial crimes News