Further to our news item of 19 November, there has recently been a further update on the Cmatch platform that is being made available by essDOCS. Please see below for the content of the latest press release from essDOCS:
CargoDocs Match (Cmatch) is a Transaction Matching Application – as defined by the Uniform Rules for Bank Payment Obligation (URBPO) – which will enable trade finance banks to continue to provide BPO-related solutions to their customers after SWIFT discontinues support for the Trade Services Utility (TSU) in 2020.
Cmatch will be launched in Q4 2019.
Scope
Cmatch will focus initially on ensuring that banks can continue to offer URBPO-based trade finance solutions to their corporate customers from the end of 2019 onwards. Specific features include:
· Secure, hosted web-based solution
· Intuitive user experience with responsive UI enabling access via laptop, tablet and/or smartphone
· Capabilities-based user access, with maker / checker option
· Baseline creation & management
· Final data set creation & management
· Data (baseline or final data set) import via Open API or manual upload
· Simple and advanced search
· Matching engine
· BPO-related features, such as pre-match, transaction cancelling, notifications, expiry warnings, etc.
· SAML based single-sign-on (SSO)
· 12 year secure online archiving
Benefits
As corporate customers continue to demand enhanced digital financing offerings, Cmatch will offer corporates and their banks a pure digital trade solution for today and the future:
· Cmatch will remain the only ICC-governed (and regulator accepted) digital trade option for several years to come, until meaningful adoption and acceptance of the upcoming Uniform Rules for Digital Trade (URDT
· Cmatch has an extensive roadmap to both increase adoption and end-to-end automation of any trade solution built around URBPO
· Cmatch has been designed to deliver a future-proof offering, both through alignment with the ICC’s Uniform Rules for Digital Trade (URRDT) as well as through interoperability with blockchain / DLT solutions and platforms
Roadmap
Cmatch's extensive roadmap is designed to ensure continued, increased adoption and extended end-to-end automation of trade solutions built around URBPO. Details of the Cmatch roadmap will be shared with banks signing up to use or trial the solution.
Cmatch, the Uniform Rules for Digital Trade (URDT) and Blockchain / DLT
Alignment with the ICC's upcoming URDT as well as interoperability with relevant blockchain / DLT solutions is critical to Cmatch ensuring a future-proof offering for banks and their corporate customers. Details of how Cmatch is aligned with the upcoming URDT and interoperates with DLT solutions will be shared with banks signing up to use or trial the solution.
Pricing
Pricing for Cmatch includes a one-off onboarding fee and flat annual fees thereafter. The solution offers 5 levels for banks, starting with a free Tester level up to an Unlimited use level. Levels are based on transaction numbers, branch numbers and/or user numbers.
For details on pricing please contact your nearest essDOCS office or reach out to cmatch@essdocs.com.