AMS, FleetBoston Financial Ally

Launch online imaging application to delivering trade document images over Web, expedite clearing of merchandise

Fairfax, VA  January 10, 2003  Consulting firm American Management Systems this week joined holding company FleetBoston Financial Corporation in launching Fleet Global Trade Services' online imaging application, designed to let trade services customers view documents related to commercial letters of credit, documentary collections and electronic trade payment transactions over the Web.

The two companies say that the solution, called Trade Key Online Images (TKOi), will provide Fleet trade customers with access to critical information that will expedite the clearing of merchandise while reducing or eliminating document storage costs.

This new product is being implemented at Fleet's trade processing centers in the U.S. and Hong Kong and can be accessed via Trade Key Online, Fleet's Web-based trade processing platform.

"TKOi is an important part of our strategic focus for the next generation of trade products," said Bob Johnson, executive vice president of Fleet Global Trade Services. "The elimination of paper and automation of existing supply chain processes are an important part of our efforts to meet the evolving needs of our clients."

The companies also announced the extension of AMS's trade services processing platform, AMS TradeLine, into Fleet's trade processing center in Hong Kong. The processing platform now handles all trade processing at Fleet's U.S. and Hong Kong processing centers.

AMS and Fleet say they are continuing to work together on a number of strategic trade finance initiatives aimed at the continuous improvement of Fleet's trade finance platform and improving customer service.

AMS says its TradeLine trade finance systems integrate and automate international trade services operations, allowing financial firms to support multiple banks, branches, and currencies across centralized and dispersed regional processing centers.