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News Article

22 December 2010

ADCB launches Pro-Trade – state of the art trade finance platform

Abu Dhabi, 22 December 2010: Abu Dhabi Commercial Bank (“ADCB”) today affirmed its leadership in trade finance with the launch of ProTrade, its online trade finance platform, allowing customers to manage their trade transactions from anywhere at any time.

The new online trade finance platform, part of ADCB’s EasyTrade suite of products and services, has been designed to enhance customers businesses with a no restriction system enabling importers and exporters to pay and get paid for the goods and services they buy and sell internationally.

The new system offers clients quicker turnaround time and increased productivity by providing the opportunity to initiate transactions, as well as receiving notifications, from ADCB 24 hours a day seven days a week. ProTrade allows clients to completely manage online all their Import and export letters of credit, bank guarantees and other trade finance services, receive information on status of transactions in real time or via email and ensure complete security of access through ProTrade using secure 32 bit encryption

Commenting on the launch of ProTrade, Colin Fraser, Head of Wholesale Banking at Abu Dhabi Commercial Bank, said “Today ADCB cemented its position as a leading trade finance bank with the ability to offer users of international trade products a leading online system to process their transactions.

“Traditionally these services are delivered to the clients via courier, e-mail and personal collection or delivery which we all know can be cumbersome and causes time delays. With ProTrade clients access a dedicated channel which allows them to manage their trade business online and execute their transactions instantly.”

The new system, which also has a series of templates for clients to use for standard transactions, allows clients to retain a library of data relating to previous transactions, saving process time.

“The effective allocation of time is at the heart of any business, large or small. We recognise the importance of enhancing trade finance solutions to free up our clients time by introducing ProTrade which allows them to focus on other key areas of the business. Colin Fraser concluded.

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