Bank of Cyprus live with Surecomp trade finance system

The completion of this milestone enables the Bank to offer its corporate customers a fully comprehensive STP end-to-end trade finance solution.

The licensing of Surecomp's trade finance solutions by the Bank of Cyprus is an integral element in the expansion of the Bank's product and services portfolio, which in addition to its core business of retail and commercial banking, includes finance, factoring, investment banking, brokerage, fund management, custody, life and general insurance.

Announcing that the Bank of Cyprus is now offering real-time STP end-to-end trade finance processing, Leonidas Isodiou, the Bank's Chief Information Officer commented: "We are now in the enviable position of being an even stronger business partner to our corporate customers by offering them a total trade finance solution encompassing an unequaled degree of efficiency, flexibility and security. This is not the end of the project but rather the competition of stage one as we move forward with our plans to grow our corporate business sector and make the Bank of Cyprus a major regional provider of trade finance services."

Offering his congratulations to the Bank, Surecomp Vice President Yuval Karp added: "Naturally we are delighted with the completion of this strategically important project. Optimizing the maximum efficiency of the tried and tested Surecomp trade finance solution ensures effective cost and time savings for the Bank while offering its customers the very best in trade services. We at Surecomp take great pride in our relationship with the Bank of Cyprus."