payment & credit

May 2001
Financial Executive;May2001, Vol. 17 Issue 3, p15
Academic Journal
The article reports on a software product marketed by Manufacturers Bank. Manufacturers Bank is marketing Wintrade, which is a software product for electronic letters of credit (LOCs) developed by Morgan Laboratories. The software enables bank customers to submit applications and receive notices for letters of credit electronically on their computers. LOC-related documents were handled manually before this technological innovation in 2000. Wintrade eliminates a need to manually re-key information on applications by automatically entering the information into both the bank's and the customer's databases. When the application is approved by the bank, it issues the LOC.


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