In Private sector lender YES Bank has chosen to deploy a commodity management software to streamline its gold and silver bullion wholesale and retail distribution operations. The bank has licensed Commodity XL for Precious Metals software from Triple Point Technology, a US-based firm specializing in commodity management software technology.
Specifically, the bank needed to seamlessly manage all aspects of its precious metals supply chain while supporting extensive regulatory compliance requirements. It chose Commodity XL for Precious Metals since the solution offers integrated management for supplier trading, inventory and consignment control, sales administration, and retail bank operations while delivering unparalleled compliance functionality.
YES Bank hopes that the solution will help it meet domestic and international regulatory requirements by providing a real-time, enterprise-wide view of exposure and automatically generating compliance documentation.
Commodity XL for Precious Metals is one of the leading solutions for the treasury bullion business, with more than 60 percent of all gold imported to India transacted through it. Other Triple Point bullion customers in India include Diamond India, HDFC Bank, ICICI Bank, Karur Vysya Bank, Kotak Mahindra Bank, State Bank of India, Su-Raj Diamonds, and the Indian Bullion Market Association (IBMA).
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