Trinity Management Systems GmbH offers two options for digital guarantee applications: 1. via EBICS, 2. via the Guarantee Vault Platform of our partner Digital Vault Services GmbH (DVS).
Assumptions of liability become more important especially in crisis situations: What happens if the business partner cannot deliver or pay on time or in full due to political events or a pandemic? Do your own subsidiaries perhaps need letters of comfort to expand your business? Do advance payments or services need to be secured by third parties?
While only some banks (e.g. UniCredit, Commerzbank) can be addressed via the Electronic Banking Internet Communication Standard (EBICS), credit insurers can also be reached as guarantors via the solution from Digital Vault Services GmbH (DVS). Trinity TMS offers its customers both ways for lean processing.
In February 2022, approximately one year after the launch of the Guarantee Vault Platform (GVP) for digitalised guarantee management, Trinity announces its cooperation with DVS to enable its clients to create, apply for and manage guarantees, sureties and letters of comfort directly from Trinity via DVS' GVP in a paperless manner.
The DVS concept is convincing more and more guarantors and makes the convenient solution increasingly attractive for many companies. Deutsche Bank, ING, Santander and the insurance broker coface are the latest participants in the Guarantee Vault Platform, with others joining on an ongoing basis.
Modern REST APIs protected by OpenID Connect are used for the connection; the transfer takes place in JSON format. As soon as the applications for assumption of liability have been transmitted, the desired guarantor receives a signal and can process the application immediately.
The Trinity TMS users receive a corresponding confirmation and can follow the further progress in the Trinity TMS and the GVP. Further possibilities for interaction with the guarantors and beneficiaries will be implemented successively in order to handle an end-to-end processing from the application to the due date and release from liability completely digitally.
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