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Swedbank live with NetIMEX

July 3, 2005 – Surecomp, a leading provider of trade finance, factoring and reconciliation solutions for the wholesale banking industry is pleased to announce that Stockholm headquartered Swedbank has gone live with NetIMEX, Surecomp’s Internet-based trade finance customer solution.

Sweden’s fourth largest banking group and ranked amongst the top 150 banks worldwide, Swedbank, known as FöreningsSparbanken in Sweden, was established in 1997 following the merger of Föreningsbanken and Sparbanken Sverige. The Bank's composite history dates back to 1820 when Sweden's first savings bank was founded in Gothenburg.

Swedbank today supports close to 800 branches in Sweden with a further 280 plus branches throughout the Baltic region. Regionally Swedbank’s 15,000 employees supports in access of 11 million commercial and private customers.

Swedbank initially licensed IMEX, Surecomp’s SWIFT ReadyGold, Bolero accredited back office trade finance system in 2003.

Announcing that Swedbank’s first trade finance customer had gone live with NetIMEX, Ulf Myllenberg the Bank’s Trade Finance / IT Systems Manager said "Following the successful implementation of IMEX and its integration into the Bank’s back office we quickly understood that in order to grow profit levels and stay ahead in a market that is becoming ever more competitive we needed to extend the range of our trade finance services. Responding to our corporate clients call for an Internet-based trade finance customer front-end, we reviewed a number of possible solutions. NetIMEX was the perfect choice. It was clear in trails that we carried out that NetIMEX’s efficient and well-organized display of information is critical and contributes to our customers overall confidence with the Bank’s extended trade finance offering."

"As of the March 2005, Swedbank had close to 3 million Internet customers spread across Sweden and the Baltic states. Of these nearly 150,000 are corporate customers. NetIMEX becomes another solution in the Bank’s Internet basket of products, all of which are geared to making our customers daily banking tasks more efficient and less time consuming" concluded Ulf Myllenberg.

Offering his congratulations to Swedbank, Yuval Karp, Surecomp’s Vice President Customer Services added "In a rapidly developing business environment, banks are continuously being challenged to keep pace with their customer’s demands. The combination of NetIMEX and IMEX provides Swedbank with a seamless end-to-end trade finance solution that is highly modular, flexible, configurable and extensible, enabling a rapid response to new business opportunities whilst ensuring the Bank a high ROI and low TCO."