The service replaces the previous trade finance application that was incorporated by the financial institution and is currently hosted in Jakarta, after being developed by Surecomp’s team.
The Bank BTPN can now deliver a more efficient customer service that is designed with internal processing of its trade finance transactions in the form of Letters of Credit (LCs), trade loans, and documentary collections. This will happen through seamless integration with the bank’s other trade-related systems for limits and position management, collateral management, core banking, sanction screening, and SMIFT connections.
Canada-based trade finance solutions provider Surecomp offers its clients a portfolio of cloud and on-premises services focused on streamlining the trade finance transaction development, driving growth, enhancing operational efficiency, and ensuring compliance.
In January of 2023, the company announced its partnership with the digital platform WAVE BL to enhance online finance workflows. This was possible by offering users the possibility to access their electronic bills of landing in Surecomp’s hub RIVO.
Following the deal, the collaborative trade finance platform of Surecomp was set to integrate the solutions offered by WABE BL, which enabled corporates and businesses to receive and manage electronic bills of landing to cut costs while saving valuable time. RIVO enhanced the efficiency of the trade finance processes and improved the overall customer experience by offering encrypted and authenticated transfers of digital trade documents and files.
Earlier in the same month, Surecomp collaborated with fintech Traystream, prioritising the integration of AI-powered document checking into its collaborative trade finance platform. After the deal was set, the company was provided with an integrated solution for sanction screening, AML detection, document and file checking, and other OCR-based compliance checks for its RIVO platform.
Through this integration, RIVO users were given the possibility to take a more proactive approach toward trade-based risk management, while improving simultaneously a digital, safe, and sustainable trade finance process by incorporating the platform with their back-office trade finance solutions. Meanwhile, Traydstream helped identify, extract, and interpret numerous data attributes from multiple global trade document types to automatically check each of the details from them in a Letter of Credit, Collection document, and Open Account.
A month prior, Surecomp was selected as a partner by Investec, for the latter to leverage its cloud-based DOKA-NG and RIVO services for a fully digital end-to-end finance processing automation.
DOKA-NG TM went live in less than three months and was set to enable Investec to execute seamless and sustainable trade finance requests from its customers across the globe.
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