The Association for Financial Professionals is to offer its members preferred access to LCconnect, an Internet-based, B2B platform for letters of credit (LCs), via its own Web site.
Through the LCconnect platform, companies can contact multiple banks simultaneously with their LC needs, run a reverse auction with the banks and ultimately award their LC business to any of the participating banks.
"This partnership reinforces our commitment to provide AFP members with a one-stop Web portal where they can receive customised content and market information, along with multiple transaction sites and best practice tools," says Jim Kaitz, AFP's president and CEO.