The technical collaboration between the two companies will give customers the possibility to use Surecomp’s trade finance hub RIVO in order to access, consume, and exchange original trade and shipping documents (including negotiable bills of lading and certificates of origin) in an efficient and secure manner. This is set to further enable clients to benefit from a streamlined digital trade finance experience.
The two firms will incorporate their suite of services in order to offer access to all data under any trade financing instrument in a single platform. The partnership aims to meet the needs and preferences of customers and clients while improving the manner in which they are trying to archive their digitalisation goals.
Surecomp represents a provider of digital trade finance services and tools for corporate and financial institutions. The company had multiple collaborations and product launches in the last couple of months, covering different geographic areas around the globe.
In March 2023, Surecomp announced its strategic deal with Contour, a global digital trade finance network, in order to drive the digital transformation of trade finance across several financial institutions and enterprises. The solutions and products of Surecomp were integrated into Contour’s decentralised network of banks for providing customers with a fully integrated end-to-end trade service.
The partnership aimed to combine Surecomp’s trade finance platform RIVO with Contour’s tools and expertise in order to offer the latter’s member banks access to digital Letter of Credit workflows directly on the Surecomp back-office applications. This was set to give straight-through automated processing, with the overall intention of reducing risks, and costs, improving operational efficiency, as well as optimising profitability.
Earlier in the same month, Indonesia-based bank BTPN collaborated with Surecomp to launch its DOKE service, for streamlining back-office trade finance processing automation. The product was designed to replace the previous trade finance application that used to be incorporated by financial institutions. At that moment, it was hosted in Jakarta, where Surecomp’s team developed it. The Bank BTPN was enabled to deliver more efficient and secure customer services, which was created with internal processing of its trade finance transactions in the form of Letters of Credit (LCs), documentary collections, as well as trade loans.
Surecomp partnered with the digital platform WAVA BL in January 2023, when the companies aimed to improve online finance workflows. The focus was set on offering clients and customers the ability to access their electronic bills of landing in Surecomp’s hub RIVO. The collaborative trade finance platform Surecomp needed to incorporate the solutions offered by WAVE BL in order to enable corporates and firms to receive and manage electronic bills of landing and cut costs while saving time and resources.
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