Surecomp completes the acquisition of ELCY

As part of the deal, the ELCY multi-bank solution, elcyMBP, is set to become a module of Surecomp’s RIVO platform, in turn developing a more consolidated digital trade finance ecosystem and allowing the company to provide scaled value, efficiency, and transparency. The strategic agreement also supports Surecomp’s commitment to advancing digital trade finance through innovation and collaboration.

The news comes a few months after Surecomp, together with BNP Paribas and Vanderlande, completed a pilot for corporate-to-bank connectivity developed by Swift and ICC. The API-based communication channel enabled Vanderlande to request a guarantee through Surecomp’s RIVO platform, which then was securely transferred to BNP Paribas in real time without manual intervention.

Surecomp’s acquisition of ELCY

ELCY, which first started its operations in 2001, aligns with Surecomp in vision, commitments, expertise, and technical infrastructure. Additionally, the company has a solid customer base across Europe and Asia, providing its services to large multinational firms in the commodities sector using elcyMBP to simplify workflows and centralise bank communications. In including ELCY customers and technology onto RIVO, Surecomp focuses on prioritising business continuity and an optimised customer experience while also developing access to a broader global network and extended functionality.

Furthermore, commenting on the announcement, representatives from Surecomp underlined that, with ELCY’s technology and team, their company is set to be able to further improve its offering and continue to meet the integrated end-to-end processing needs, demands, and preferences of customers across multiple industries. At the same time, ELCY mentioned that teaming up with Surecomp and being able to utilise the latter’s expertise, global reach, and integrated back-office solution allows the firm to leverage a platform through which it can offer scaled value to clients. The two companies plan to work together on advancing digital trade while remaining compliant with regulatory requirements and laws.