Surecomp today announced that two financial institutions have subscribed to its newly launched RIVO™ platform for collaborative trade finance. DZ Bank is the first bank to sign-up, alongside the leading provider of guarantee insurance in the Nordics.
Frankfurt-based DZ BANK - which also acts as a central hub to 850 member banks - will invite its respective corporate clients to communicate via RIVO for the accelerated processing of thousands of trade finance transactions.
Both companies, which take a digital-first approach to serving their customers, plan to fully integrate RIVO™ via APIs into their back-office systems for complete straight-through processing. DZ BANK - which also manages international trade finance processing requests from the bank’s Hong Kong branch - will enable a significantly enhanced customer service and process efficiency improvements, while the insurer will optimize its digital customer experience with same day issuance of guarantee bonds.
Thomas Arendt, Head of Documentary Trade at DZ Bank said, “As Germany's second largest bank and a leading trade finance bank processing thousands of transactions every year, RIVO perfectly meets our need to centralize and digitize our corporate communication channel. It will transform the efficiency of our customer service and work in harmony with DOKA-NG, Surecomp’s back-office processing solution.”
“It’s very exciting to see the first customers signing up to RIVO,” states Enno-Burghard Weitzel, Surecomp’s SVP of Strategy, Digitization and Business Development. “The value of the platform in fostering collaboration is already gathering great momentum. With the nature of DZ’s business model and the insurance market increasing demand for digital the trade finance solutions, RIVO will serve their respective trade finance communities extremely well.”