TD Bank Uses PIERS Trade Finance? to Bolster Origination Efforts
Published:20 May 2015 01:05:40 PST
To many companies that make up the financial services industry, companies involved in international trade are an attractive target market. Banks and financial institutions can offer letters of credit or other trade financing products, while insurers can provide import/export insurance.
TD Bank along with many other leading financial institutions has found PIERS Trade Finance? to be an invaluable tool for finding “hot leads” involved in international trade. The intuitive interface of Trade Finance allows them to see what companies in a given U.S. region are trading overseas, and then drill down to see the individual companies and the markets they serve. Selecting any given company in the search results allows them to access detailed D&B company information which is combined with PIERS trade data, to provide valuable insight into that company’s trade activity. This unique combination of data makes for a very powerful prospecting tool that gives users the choice of accessing aggregate trade data that shows top trading partners, ports, and commodities traded, or drilling down to see the rich details in individual Bills of Lading.
Trade Finance also has the added benefit of showing companies’ bank of record (when available) as part of the search results, and because PIERS is the only provider of transaction level export data TD Bank is able to get a complete view of each company’s trade activity, as opposed to just seeing foreign suppliers.
Dan Fisher, Director of Global Trade Finance North America, has been benefitting from PIERS trade intelligence for many years, and says, “We find PIERS Trade Finance very useful to assist in our origination efforts for trade finance business. This database allows us to look for clients by region, state and even down to the respective counties that our commercial lenders work in. It is always nice to have a warm lead instead of having to go for a cold call to a company to provide our services.”
To learn more about how PIERS Trade Finance visit www.piers.com/tradefinance or call +1-973-776-8660 to speak to a solutions expert.