ABN Amro is to provide a range of financial services to users of Oracle's B2B Exchange software.
Under the agreement, the Dutch bank will deliver financial payment, collection and settlement services, trade finance services, and integration of Identrus as a digital certificate standard in the Oracle Exchange Platform. Additionally, the two companies have established a fully automated transaction and payment processing infrastructure for Oracle's Shared Service Centre for its Emea division in Dublin.
The two firms say they will integrate administrative tools such as ECenroll, the ABN Amro's administrative service for collection and disbursement programmes; value added information services for international trade; third-party trade facilitation tools for funds transfer and settlement; financial payment, collection and settlement services such as electronic card transactions, online payment guarantees, priority and regular funds transfers and online direct debit; and trade finance services such as import and export letter of credit initiation, reporting and advising.
Steve Miranda, vice president, Oracle applications development, comments: "We intend for customers to access world-class payment and settlement services from ABN Amro, allowing them to complete the purchasing cycle online."