Surecomp partners with WAVE BL

Friday 27 January 2023 14:16 CET | News

Global provider of trade finance solutions Surecomp has announced its partnership with digital platform WAVE BL to enhance online finance workflows.

This will be possible by offering customers the ability to access their electronic bills of landing in Surecomp’s hub RIVO. 

Following this partnership, the collaborative trade finance platform of Surecomp will integrate the solutions offered by

WAVE BL, enabling corporates and businesses to receive and manage electronic bills of landing to cut costs while saving valuable time. RIVO can enhance the efficiency of the trade finance processes and improve the overall customer experience by offering encrypted and authenticated transfers of digital trade documents and files. 

All digital clients, including buyers, cardholders, sellers, merchants, issuing banks, and advising banks can now sign and exchange original documents digitally, eliminating courier costs, penalty fees incurred at the dock, as well as the risks of online threats such as fraud. This will improve the overall environmental sustainability and business resilience, as well as add visibility and simplify the process of checking documents for banks. 

Being connected to several container shipping companies around the world, such as ONE or ZIM, WAVE BL can share the data with their banks on the trade finance management platform.

RIVO will allow through the partnership any exporter to access, manage, edit, and transfer ownership of its bills of lading electronically by facilitating collaboration to drive a more digital global trade finance process. According to the press release, RIVO was designed to enable customers to streamline their trade and finance management, as well as their workflow. The clients will benefit from better data accuracy and a more efficient process of checking documents. 

Global provider of trade finance solutions Surecomp has announced its partnership with digital platform WAVE BL to enhance online finance workflows.

Surecomp’s development strategy in the finance industry 

Canada-based trade finance solutions provider Surecomp offers its customers a portfolio of cloud and on-premises solutions to streamline the trade finance transaction development, ensure compliance, drive growth, and enhance operational efficiency. 

In January of 2023, the company announced its partnership with fintech Traydstream, to integrate AI-powered document checking into its collaborative trade finance platform. Following this deal, Surecomp will be able to use an integrated solution for document checking, sanction screening, AML detection, as well as other OCR-based compliance checks for RIVO. 

Through the collaboration, the customers of the RIVO platform will be able to take a more proactive approach toward trade-based risk management. At the same time, they will simultaneously improve a digital and sustainable trade finance process by integrating RIVO with their back-office trade finance solutions. 

A month prior, in December of 2022, UK-based bank Investec partnered with Surecomp for its cloud-based DOKA-NG and RIVO services, which provide fully digital end-to-end finance processing automation. 

DOKA-NG TM offered Investec the possibility to execute effective and sustainable trade finance requests from its clients and merchants across the world. 

Furthermore, in October of 2022, Surecomp completed a pilot of automated ESG scoring and tracking in the trade finance solution RIVO. Through the platform, the trade finance ecosystem of financial institutions, businesses, corporates, as well as shipping companies can connect to a range of ESG rating agencies. 

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Keywords: partnership, digital payments, financial services, online banking, online payments
Categories: Banking & Fintech
Companies: Surecomp, WAVE BL
Countries: Canada
This article is part of category

Banking & Fintech




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