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Bank of China goes live with China Systems' Eximbills Enterprise

October 2009. Beijing, China. Bank of China, the largest trade finance bank in China and one of the largest trade finance banks in the world, has gone live with Eximbills Enterprise (EE), the flagship trade processing system.

Eximbills Enterprise ™ is a product of China Systems, the leading vendor of trade finance front-end and back office processing systems. China Systems has been recognized for five straight years as the leading trade finance solutions provider by Global Trade Review (GTR), the authoritative trade business journal.

Bank of China, a long-standing customer of China Systems, has gone live with their full range of traditional trade products, and recently with Forfeiting and Factoring. They will deploy over 6,000 workstations for its international settlement and trade finance business processing system. There are currently 3,000 users registered on the system.

(For more information on Bank of China’s International settlement and trade finance business processing system

Bank of China chose China Systems following an extensive search and screening process to find the right industry leading trade finance solution. Banks like Bank of China, which are active in the trade business, provide finance and guarantee instruments to clients to enable cross-border trade running into trillions of dollars. Effective processing of trade documents is vital to reduce risk in cross-border trade, and to allow suppliers earlier active settlement of payments for goods and services provided. China Systems’ Eximbills Enterprise provides bank staff with a range of tools to enable straight through processing and to link into bank systems to monitor everything from document scanning, review and processing, to checking of credit availability and posting of relevant accounting entries, through to fulfilling anti-money laundering requirements.

Eximbills Enterprise gives the customer the ability to define a business model or process, while using a common set of software codes across more than 150 customers worldwide.

Banks are able to process trade finance, supply chain finance and clean payments through this web-based system. Eximbills Enterprise is integrated into bank systems through flexible tools that define generic interfaces for the customer systems (such as AML and General Ledger), while also using web services for online transactions.

China Systems’ Eximbills Enterprise is agnostic to customer channel or back end system; its modern and flexible structure allows the support of many different back end processes. The resilient design also supports full “follow the sun” operating models required by many banks today. The data is stored using the ISO20022 XML standard that is widely accepted in both the payments and trade businesses.

The unique Eximbills Enterprise development toolkit reduces the cost of building new products, while mitigating the integration challenge inherent in any legacy environment. It draws heavily on the principles of Service-Oriented Architecture (SOA) to create the most modern trade platform available today.

About Bank of China

Bank of China is one of the big four state-owned commercial banks of the People's Republic of China. Founded in 1912 to replace the Ta Ching Government Bank, it is the oldest bank in China. From its establishment until 1942, it issued banknotes on behalf of the Central Government along with the "Big Four" banks of the period: the Central Bank of China, Farmers Bank of China and Bank of Communications. Although it initially functioned as the Chinese central bank, in 1928 the Central Bank of China replaced it in that role. Subsequently, BOC became a purely commercial bank. Today, it is the most international of China's banks, with branches in every major continent. Outside of mainland China, BOC operates in 27 countries.

About China Systems

Established in 1983, China Systems is today's largest trade services solutions vendor in the world, with offices throughout Europe, North America, Asia, and the Middle East. Eximbills, our world-renowned back office trade finance system and China Systems' flagship product, is used by more than 150 customers in more than 75 countries worldwide.