Product Overview
Based on the CMB online corporate banking system, CMB has developed the ECDS module for finance companies. They can use the ECDS FI module to connect into the electronic commercial bill system for PBoC; directly implement all functions such as acceptance, discounts, rediscounts and hypothecation; and fulfill all business requirements relating to electronic commercial bills.
Features
1. The product can be easily enabled without requiring additional applications or system development.
2. CMB is responsible for maintaining and upgrading the system, which reduces the maintenance costs incurred by finance companies.
3. The electronic commercial bills benefit from full functionality.
4. The system is stable and non-exclusive.
Service Procedure
1. A finance company opens a CNY settlement account with CMB.
2. The finance company and CMB sign the Electronic Commercial Bill Service Agreement for Interbank Clients.
3. After the CMB online banking system is enabled, the finance company applies to enable the electronic system for PBoC commercial bills, and sets the related privileges and businesses.
4. The finance company begins using the relevant ECDS functions.
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.