China Bohai Bank licenses Surecomp's trade finance system
26 June 2006 | 1431 views | 0
Surecomp, the leading provider of integrated trade finance solutions for the banking and financial market, today announced that China Bohai Bank has selected IMEX, Surecomp's SWIFT Ready Gold, Bolero enabled flagship trade finance solution for their back office operations.
Bohai Bank, which is implementing IMEX on a UNIX platform, becomes Surecomp's 4th IMEX user in China.
Established in September 2005, China Bohai Bank is the first national joint stock commercial bank to be set up in China in the past decade and is the first local bank to be partially funded from its establishment with foreign investment - Standard Chartered Bank invested $123 million for a 19.9% stake in the Bank. China Bohai Bank is the first national bank based in Tianjin, a major manufacturing center 120 km from Beijing and northern China’s biggest port city.
Following the signing of the licensing agreement, Mr. Liu Zheng Quan, Chief Information Officer of China Bohai Bank expanded on the Bank's near-term ambitions. "It's no secret that we have dynamic plans for the bank, which is reflected in the selection of IMEX as our back office trade finance solution. China Bohai Bank will use IMEX to drive growth and build the bank into a leading regional player."
Matthew Chen, General Manger of Surecomp's China operations adds, "In March 2005 Surecomp made a financial and strategic commitment to the Chinese banking market by establishing a development, support and sales center in Beijing. China Bohai Bank is the fourth IMEX user in China. Surecomp has successfully established itself as a reliable partner for Chinese banks as they transform themselves into international financial institutions."