Surecomp Rolls Out Suite For Tracking Trade Finance Needs

Surecomp, which works in global trade finance and treasury solutions for banks and corporations, has launched a Trade-Finance-as-a-Service suite to help parties track their trade finance needs, according to a press release.

The service will comprise back-office management and processing, front-office needs for corporate clients at banks, an open application programming interface (API) connection and comprehensive access to the company’s marketplace. It will be scalable and lets companies access a range of features — digital application, tracking and management of various trade finance needs.

The platform is SWIFT-certified, according to the release.

The company said the product will work to improve agility for banks and corporates of various sizes, reducing costs and also reliance on IT infrastructures. It also supports transitions to the cloud and access to a broader ecosystem of trade finance through the open API gateway and the marketplace from Surecomp.

“By responding to our customer’s needs, we are offering yet another way to gain value from our state-of-the-art trade finance solutions,” Surecomp President Guy Perry said, according to the release. “With TFaaS, customers can now consume the entire trade finance service via powerful, cloud-based, easy-to-onboard technology, which is fast, efficient and extremely cost-effective. This means our customers can become more agile, and in turn deliver a more efficient trade finance service to their customers.”

Surecomp has also introduced the Fastrade front office product, which the company says will help bank customers with issues of customer service via a new system in which small- to medium-sized businesses (SMBs) can process trade finance activities directly with their banks, PYMNTS reported, according to Surecomp Executive Vice President of Global Delivery and Operations Gadi Komet.

Fastrade works with API connectivity and as a Software-as-a-Service product out of the box. The product supports some of the more common trade services and has workflows done ahead of time to make sure setup doesn’t take long.