FAQS

What is Bankors and what services does it offer?

Bankors is a comprehensive financial management platform designed to streamline banking operations for corporate finance teams. It centralizes the full lifecycle of Letters of Credit (LCs), Letters of Guarantee (LGs), Loans, and Bank Facilities, while automating accounting entries and integrating directly with Oracle Fusion.

Our key services include:

LC & LG Management: Create, amend, extend, and monitor Letters of Credit and Guarantees with automated charge calculations and audit trails.

Loan Management: Manage short- and long-term loans, schedule repayments, calculate interest rates, and track settlements.

Bank Facility Oversight: Track facility contracts, monitor usage, and manage multi-line facilities from a unified dashboard.

Oracle Fusion Integration: Automatically generate and post journal entries to the General Ledger with full previews for accuracy and compliance.

By combining automation, integration, and transparency, Bankors empowers finance executives to simplify complex processes and maintain complete financial control.

How do I create an account on Bankors?

Getting started with Bankors is simple:

Visit Our Website: Go to the Bankors homepage and click “Get Started” or “Request a Demo.”

Provide Details: Fill in your company and user information.

Verify Email: Activate your account by clicking the verification link sent to your inbox.

Set Up Organization: Define your bank facilities, user roles, and Oracle Fusion connection.

Choose a Plan: Select the subscription package that fits your organization’s size and needs.

What subscription plans are available?

Bankors offers flexible pricing designed for different organizations:

Standard Plan: Full LC and LG management with automated journal entries.

Professional Plan: Includes loans and bank facility management, plus advanced audit trail features.

Enterprise Plan: Tailored solutions with enhanced customization, dedicated support, and enterprise-level security.

Pricing details are available on our Pricing Page.

Does Bankors work on both mobile and web?

Yes. Bankors is available on both web and mobile platforms, giving finance teams the ability to manage facilities, approve transactions, and monitor banking operations anytime, anywhere.

How do I set up a Letter of Credit (LC) in Bankors?

Setting up an LC is straightforward:

Log In: Access your Bankors account.

Go to LC Module: Select “New LC.”

Enter Details: Fill in the applicant, beneficiary, issuing bank, and contract references.

Add Charges & Terms: Bankors automatically calculates charges, VAT, and margins.

Preview & Submit: Review details, preview journal entries, and confirm issuance.

Can I integrate my ERP or data sources with Bankors?

Yes. Bankors integrates seamlessly with Oracle Fusion ERP, enabling automatic posting of journal entries and financial updates. Additional ERP integrations can be requested under Enterprise plans.

How do I track changes or amendments in Bankors?

Bankors provides a Change History tab in every LC, LG, and Loan. You can:

View all amendments (extensions, increases, reductions, beneficiary changes).

Track user actions with timestamps.

Ensure compliance through a complete audit trail.

What are best practices for managing bank facilities in Bankors?

We recommend:

Creating a centralized contract repository in Bankors for all facilities.

Monitoring facility usage regularly through Bankors dashboards.

Leveraging automated calculations to reduce manual errors.

Using audit trails to stay compliant and transparent.

Can I customize notifications in Bankors?

Yes. Bankors lets you set up alerts and reminders for critical events, such as:

LC or LG expiry dates.

Loan repayment deadlines.

Facility utilization thresholds.

This ensures finance teams stay informed and never miss key milestones.

Who should use Bankors?

Bankors is designed for:

Finance Executives & CFOs needing complete visibility over banking operations.

Corporate Treasurers managing multiple facilities and loan schedules.

Finance Teams seeking automation, auditability, and Oracle Fusion integration.