Bank of America Launches Web-based Trade Direct Services for International Trade Clients

Trade Direct Services provides straight-through processing for the full range of international trade products including import, export and standby letters of credit, collections and purchase order processing, with a phased approach. With this new service, Bank of America will also be able to deliver critical information through extensive activity reports and efficient inquiry capabilities. This new service also eliminates the need to download or install software or new enhancements in the client shop, as Trade Direct Services runs on the bank’s server. Bank of America Direct employs a combination of security standards in the market today: digital certificates, 128-bit Secure Sockets Layer (SSL) connection protocol and firewalls. Trade Direct Services adds to this the ability for clients to manage user entitlements to specific functions and information. On February 4, 2002, Trade Direct Services for exports and collections became available to Bank of America clients in the U.S., with availability of these services in Asia in the near future.

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