Union Bank of California selects S1 trade finance package

Union Bank of California selects S1 trade finance package

Union Bank of California (UBOC) is to use a hosted version of S1 Corporation's trade finance solution for the delivery of Web-based documentary services to corporate customer.

With S1 Trade Finance, UBOC will begin offering customers Web access to its full suite of trade resources, including import and export letter of credit, standbys, and documentary collections. S1 Trade Finance also offers more than 150 standard customer reports.

UBOC will utilise S1's hosting services through S1's data centre, and use the data centre technology to implement Internet services to customers.

Randy Ruckle, senior vice president of global trade banking at UBOC, says: "We expect the implementation of the S1 Trade Finance solution to enhance our customer service, transaction accuracy and response time, which should result in increased business, additional revenue and enhanced profitability."

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