25 February 2018
Visit www.capgemini.com/worldreports

Sovereign Bank to outsource trade finance operations to Bank of New York

19 November 2002  |  3310 views  |  0 Sovereign Bank to outsource trade finance operations to Bank of New York

Philadelphia-based Sovereign Bank is to provide its customers with access to The Bank of New York's global network and suite of Web-based trade products and services.

Under the global trade services agreement, the Bank of New York will also handle Sovereign Bank's import letter of credit and export documentary collection processing, through operation centres in New York and Asia.

Dennis Dubois, senior vice president and director, Sovereign Bank international trade banking group, says: "Our customers will greatly benefit from efficiencies gained from The Bank of New York's systems and processing facilities.

"Our clients will also gain access to The Bank of New York's global network, which will enable us to service their trade processing needs worldwide," adds Dubois.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Sovereign Bank reconciles commercial accounts with CheckFree

Sovereign Bank reconciles commercial accounts with CheckFree

05 November 2002  |  2646 views  |  0 comments
Brief: ING and Bank of New York strike global custody deal

Brief: ING and Bank of New York strike global custody deal

16 October 2002  |  4102 views  |  0 comments
Brief: Bank of New York investigates payments with Pegasystems

Brief: Bank of New York investigates payments with Pegasystems

01 October 2002  |  3159 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsVisit www.vasco.comVisit http://info.nice.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12652 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10823 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9317 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8678 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8610 views comments | 11 tweets | 14 linkedin

Featured job

Find your next job