1. Letters of Credit
  2. Annexure – E (Workflow)

8 Annexure – E (Workflow)

Workflow for Letter of Credit Origination:

The Business Process Execution Language (BPEL) workflow layer allows you to define a workflow for handling different transactions. The front-end user interface of this layer allows you to capture details required for the transactions and sends them to Oracle Banking Trade Finance for processing.

BPEL- Import LC Issuance Workflow

An Import LC issuance is providing a letter of credit to a customer; to issue, advice or confirm a letter of credit, for a trade transaction. Your bank thus verifies the customer limit to enable the transaction. After compliance checks and validations are performed, your bank requests an acceptance instruction from your customer. The customer may accept the data entry and may ask your bank to include further details, which if acceptable, are included in the LC transaction. If the customer modifications are not acceptable to the bank, the same can be communicated to the customer and the record may be consequently deleted.

Stages in Import LC Issuance

In Oracle Banking Trade Finance, the process for issuing an import LC is governed by several user roles created to perform different tasks. At every stage, the users (with requisite rights) need to fetch the relevant transactions from their task lists and act upon them. Similarly, at different times, the system will make calls to certain web services to process the transaction. This process is composed of the following stages:
  1. Receive and verify LC import opening form and other documents
  2. Retrieve customer limit details and check for limit approval
  3. Notify prospect/customer on negative status of limit
  4. Input details of LC import issuance
  5. Verify details of LC import issuance
  6. Modify details of LC import issuance
  7. Sub process – AML checks
  8. Arrange term deposit
  9. Create LC import in Oracle Banking Trade Finance
  10. Store documents

Stages in Export LC Issuance

In Oracle Banking Trade Finance, the process for issuing an Export LC is governed by several user roles created to perform different tasks. At every stage, the users (with requisite rights) need to fetch the relevant transactions from their task lists and act upon them. Similarly, at different times, the system will make calls to certain web services to process the transaction. This process is composed of the following stages:
  1. Receive Export LC and Establish Authenticity
  2. Inform Issuing Bank
  3. Input LC Details
  4. Verify Details of LC
  5. Modify details of Export LC
  6. Retrieve and Verify Export LC Details
  7. Seek Clarification from Issuing Bank
  8. Capture Remarks to Inform Issuing Bank
  9. Confirmation Stage
  10. Seek Issuing Bank’s Approval
  11. Create / Modify LC Details
  12. Store Documents