Surecomp, a leading provider of global trade solutions for financial institutions and corporations, announced today that Chicago-based MB Financial Bank has licensed a Surecomp end-to-end trade finance solution.
Based on the agreement, MB will deploy allTRA, Surecomp's Java J2E back-office trade finance system, and allNETT, the vendor's Java J2E Web-based trade finance front end. MB intends to harness the power and flexibility of Surecomp's fully integrated best-of-class solution and become a major regional player in the trade finance business.
MB has been helping its customers grow, manage and protect their assets for 100 years. MB customers are able to decide when, where and how they bank through 90+ banking centers located throughout Chicago and its metropolitan suburbs. In addition to their branches, other customer access options include internet-based MB Web Express, MB Deposit Express, and ibankmb.com, an online banking system with bill pay.. MB also offers its local Telephone Banking Center, which is available seven days a week, and its 24/7 Phone Access Line (PAL)
"We strive to be the best provider of financial services to small and mid-sized businesses in the Chicago metropolitan area and the other selected markets we serve, as well as to individuals living or working near our banking centers," said Scott M. Baranski, MB Financial Bank's Senior Vice President, International Banking. "At MB , we are committed to providing personalized, relationship-oriented service that our customers value. Our continued success over the past 100 years is the combination of a highly-talented and energized workforce supported by effective and efficient operating systems."
"MB understood the need to implement a trade services solution that would allow our corporate customers to concentrate on their core business," added Mr. Baranski. "Our success is all about partnering with our customers and suppliers. And in Surecomp we found a partner that not only matches our high standards, but also demonstrates a profound knowledge of our business and that of our corporate customers."
MB's front-to-back straight-through processing (STP) trade finance system comprises Surecomp's Java-based allNETT and allTRA software systems. A multi-customer, multi-entity solution, allNETT is a bank/corporate front end for both initiating trade finance transactions and extracting wide-ranging inquiries and reports. allTRA is a powerful state-of-the-art bank back-office system.
"As a leading Chicago-based financial institution with well deserved recognition, MB has built a reputation for quality services, cutting-edge IT coupled with first-class management and highly motivated employee base. We were quietly confident from the outset that Surecomp's fully comprehensive STP end-to-end trade finance solution was the best fit for the bank. Naturally we are delighted that our faith in our solution has been formally endorsed by the Bank and we are looking forward to continuing our fruitful relationship with MB," said Jack Villacis, Surecomp's Vice President Sales, for the Americas.
"We are naturally delighted by the vote of confidence given Surecomp by MB added Joel Koschitzky, Surecomp Chairman. "In North America we are seeing that boutique/medium business banking, payments, and consumer banking are driving IT projects at banks. To achieve their goals for these business areas, savvy financial institutions like MB are opting to use tried-and-tested vendor solutions such as those offered by Surecomp. Few financial institutions have adopted the software-as-a-service model, with most banks preferring low TCO solutions directly under their control."