Mizuho in trade finance deal with TradeCard
10 July 2002 | 2959 views | 0
Mizuho Corporate Bank has entered a joint initiative with TradeCard to roll out the online trade finance platform to Japanese corporate customers.
Under the agreement, TradeCard, TradeCard Japan and Mizuho will work together to introduce the TradeCard platform to their customers in Japan and to develop customised functionality for export finance, import finance and settlement on the platform.
Kurt Cavano, chairman and CEO of TradeCard, comments: "Our platform, which has over 400 corporate members and processed nearly $100 million in trade shipments last year alone, provides Japanese customers a proven and efficient way to conduct their cross-border trade operations. Mizuho will enhance this value proposition by providing customers value-added financial services such as financing and settlement."
TradeCard Japan was established in July 2001 as a joint venture among Mitsui & Co, Mitsubishi Corporation, TradeCard and Warburg Pincus to market the TradeCard Platform.