Surecomp, the leading global provider of trade finance solutions for banks and corporations, today announced that a major Paraguayan bank has licensed Surecomp's Java-based end-to-end trade finance solution.
Based on the agreement, the bank will deploy allTRA®, Surecomp's flexi-scale back-office trade finance system, and allNETT®, the vendor's Web-based multi-customer trade finance front end.
One of the largest banks in Paraguay and a leader in its corporate banking market, the bank is a subsidiary of one of the largest financial enterprises in Latin America and one of the world's largest banks.
The bank's front-to-back trade finance system comprises Surecomp's Java-based allNETT and allTRA solutions. allNETT is a bank/corporate front-end system for both initiating trade finance transactions and extracting wide-ranging inquiries and reports. allTRA is a powerful bank back-office system that enables highly-automated processing of various trade finance transactions including commercial and standby letters of credit (L/Cs), industrial revenue bonds (IRBs), guarantees, collections, fund transfers, reimbursements and clean payments. The state-of-the-art Surecomp solution will enable the bank to fully automate its handling of trade finance transactions, leading to increased business volume and enhanced customer satisfaction.
"Paraguay has achieved impressive economic growth in recent years, growing well above global averages. We are gratified that the Paraguayan bank - after a thorough evaluation of leading trade finance solutions - has turned to Surecomp to help it meet expanding demand for trade finance services from its corporate customers," said Joel Koschitzky, Surecomp Chairman. "This bank joins a long and growing list of Latin American trade finance banks that appreciate Surecomp's strong development capabilities and customer service in the region."