/ Nov 10, 2009

First time in Mongolia TDB has implemented automated trade financing system - GRAFT

The Trade and Development Bank is eternity aiming for initiate international highly developed modern technology to Mongolian banking sector.  

Therefore, in cooperation with Grape City Company, TDB has implemented brand new system of trade financing GRAFT. The system has various advantages to the bank’s functional factors, which assist to automate the performance of Letter of Credit, Bank guarantee, basic and medium level of Collection activities, Auditing and Back office accounting processes. 

The TDB is first ever implementer of Graft system and it also launched first time in Mongolia the Treasury system of asset management and its accounting in beginning of 2009. 

The main advantage of the GRAFT system is that it’s fully integrated with Core banking system and provides chance to complete trade investment payment and transfers speedily. Graft system is an operational tool to gather the highly organized information compound and provides automation of to ensure that transactions and processes are executed correctly and on time.

Besides the system will help to improve recording process of all types of loan, Letter of Credit, and bank guarantees, and also decreases risk of banking whole operations. So it’s the new page of technological development in Mongolian banking sectors.

Implementation of the Graft system makes its important contribution not only to TDB, but also to Mongolian banking sector development.

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