As China’s leading provider of e-banking and electronic financial supply-chain services, CMB’s integrated e-system currently provides a range of innovative products such as electronic commercial drafts, online notes, online domestic L/Cs, online domestic factoring services, the receivable and payable management system, corporate cards, and a transaction identification system.
In 2002, CMB incorporated online domestic L/C services into U-BANK 3.0, marking the start of CMB's exploration into electronic financial supply-chain services. In 2002, CMB and China’s Customs Administration partnered to jointly construct an electronic customs system for online payment services and an e-clearance system to facilitate customer clearance and tax payments by importers and exporters.
In 2004, CMB released the Online L/C service, an innovative e-logistics and purchasing tool designed to optimize corporate customers' business procedures by providing bank credit-based payment guarantees for upstream and downstream supply chain companies. The solution also incorporates various financing services including L/C packages, payment negotiations, and L/C forwarding.
In 2005, CMB issued China's first electronic note, enabling CMB to provide holistic e-solutions for commercial sales note collections and logistics and for purchase note payments by corporate customers.
In 2007, CMB launched the transaction identification business to solve accounting problems caused in enterprises by insufficient payer information and payer name ID failures.
In 2008, CMB launched its online domestic factoring service to simplify the conventional factoring process, minimize difficulties in receivables and payables management, and enable companies to improve sales account management processes.
On October 28, 2009, CMB became one of the 18 banks authorized to launch the PBC electronic commercial draft system (ECDS). Subsequently, CMB issued China's first e-bank and e-commercial acceptance drafts, and operated the nation’s first e-commercial draft discount business. Since then, CMB's banking system has proven to be consistently reliable, mature and stable.
In 2010, CMB released a series of solutions including corporate note management and utilization, receivables management and utilization, and payment collection management. These solutions have optimized the receivables management process, integrated supply chain resources, and improved the supply chain.
Note:
All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.