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ABN Amro licenses Surecomp trade finance technology

13 October 2010  |  3437 views  |  0 Source: Surecomp

Surecomp, a leading provider of global trade solutions for the financial services community, announced today that leading Dutch banking powerhouse ABN Amro Bank NV has recently licensed allNETT, Surecomp's web-based trade finance front-end solution for banks and their corporate customers.

allNETT is a Java J2EE web-based, 24/7 multi-customer, multi-entity solution for both initiating trade finance transactions and extracting wide-ranging inquiries and reports. allNETT makes the corporate processing of letters of credit (L/Cs) much more efficient by eliminating all manual activities previously associated with such transactions.

With allNETT, ABN AMRO will be able to react quickly to the evolving requirements of the fast-paced corporate world by offering an attractive, easy-to-learn and cost-saving solution. Acknowledged as a "green" solution, allNETT eliminates costs associated with the creation of L/Cs and guarantees and enhances the paperless office concept. The solution also speeds up critical business reporting that corporations require to remain competitive. ABN AMRO has licensed allNETT V4.0 which includes an intuitive Reporting Module, which can be used by both the Bank and their Corporate customers, an interface to the Global Filtering System (Fircosoft) and enhanced Guarantee functionality.

"In the banking industry, innovation is becoming increasingly critical for effectively responding to the needs of corporate customers in multiple locations in real time," remarked Surecomp Chairman Joel Koschitzky. "allNETT joins the arsenal of innovative solutions at the disposal of ABN AMRO as it seeks to enhance its recognized brand name and enable its corporate customers to stake leadership positions in their respective markets."

 

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