Commerzbank, GTC to automate digital trade finance

Monday 20 May 2019 11:19 CET | News

Commerzbank has signed a strategic partnership with GlobalTrade Corporation, to use GTC’s platform to strengthen its digital trade finance product range.

The partnership leverages Commerzbank’s network footprint and GTC’s multi-bank technology, coupled with SWIFT connectivity, to meet the trade finance needs of corporate clients.

GlobalTrade Corporation (GTC) is a Canada-based software developer and application service provider of multi-bank trade finance solutions. Their customers include both business enterprises that need consolidated access to multiple banks as well as financial institutions that require supply chain finance solutions.

Commerzbank AG is a German bank headquartered in Frankfurt am Main. The bank is present in more than 50 countries around the world and provides almost a third of Germanys trade finance. In 2017, it handled nearly 13 million customers in Germany and more than 5 million customers in Central and Eastern Europe. Commerzbank is a member of the Cash Group.

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Keywords: Commerzbank, GTC, GlobalTrade Corporation, trade finance, trade finance business, digital finance, multi-bank technology, Cash Group, Trade Finance Network
Countries: World