Surecomp, the leading global provider of trade finance solutions for banks and corporations, announced today the signing of a licensing agreement with Bank BPH, a leading Polish bank.
Under the terms of the agreement, Bank BPH, a longtime user of Surecomp's IMEX® and allNETT® trade finance banking systems, will implement IMEX 7.0, the latest version of Surecomp's high-volume back-office solution.
Headquartered in the port city of Gdańsk, Bank BPH ranks among Poland's top ten banks and the world's top one thousand banks. Part of GE Capital, Bank BPH is a subsidiary of General Electric, one of the largest corporations worldwide.
"After reviewing various market options, we opted for an agreement with Surecomp, the leader in developing next-generation trade finance back-office and front-end systems for banks," said Jerzy Zan, Managing Director, Commercial Banking Products Department at Bank BPH. "Our agreement with Surecomp is a significant milestone in our continued efforts to position Bank BPH as Poland's leading trade finance bank. We believe that our ongoing collaboration will enable us to gain even more momentum in trade services, while providing a new range of beneficial features and functionalities for our corporate clients."
Scheduled to start implementation in late 2014, the project will provide Bank BPH with a next-generation end-to-end trade finance solution. Presenting a range of innovative features, IMEX 7.0 streamlines operations to greatly increase productivity and transaction processing throughput. By automating rule-driven tasks, IMEX reduces errors and associated costs, improves risk management, and ensures compliance with regulatory standards.
"We are pleased that Bank BPH will continue to drive its trade finance services with the latest version of IMEX. Our long-running partnership with Bank BPH has helped the bank create and operate an effective front-to-back trade finance solution that serves as a model of best industry practices," said Joel Koschitzky, Surecomp Chairman. "Surecomp has pioneered the trade finance solution market since its inception in 1987. As a market leader, we continue to invest heavily in the development of our product suite to provide diverse bank and corporate solutions to meet varying client requirements."
"Given that Bank BPH and Surecomp have partnered fruitfully for two decades, the bank's selection of IMEX 7.0 was a natural progression in our working relationship," said Raphael Barisaac, Surecomp Vice President Europe and Global Head, Trade Finance & Supply Chain Finance. "We are proud to continue our partnership with Bank BPH, and will work hard to provide the bank with unrivaled products and support in the years ahead."