April 5, 2006 – Surecomp, a leading provider of trade finance solutions for the banking and financial market, today announced that Bangkok headquartered Bank of Ayudhya has after a strenuous evaluation process, licensed Surecomp’s fully comprehensive STP end-to-end trade finance solution to automate their trade service operations.
Established in 1945 in the province of Ayudhya, once the capital of the Thai Kingdom, Bank of Ayudhya has grown to become Thailand’s sixth largest banking and financial group with a paid-up capital in access of $750 million and regularly features amongst the top 500 banks worldwide.
Bank of Ayudhya places priority on the development of products and services to its corporate and retail customers, and offers a comprehensive range of banking services.
Understanding that to be a successful commercial bank the Bank of Ayudhya required an aggressive, forward looking trade finance department, the Bank licensed IMEX, Surecomp’s back office solution and NetIMEX, Surecomp’s trade finance Internet-based customer front end.
The licensing of Surecomp’s fully comprehensive STP end-to-end trade finance solution will ensure that Bank of Ayudhya continues to set the standard for other banks in the rapidly maturing Thai banking market.
“Over the years we have built a reputation as a very successful, active, trade finance department eager to develop our ideas and initiatives” remarked Ms. Arpavadee Meekun-iam, Bank of Ayudhya’s First Executive Vice President, “however to meet our growth aims, both in terms of customer service and financial bottom line we understood that we needed to rethink our trade finance application options.”
“The selection process was arduous. We needed to ensure that not only did the proposed solution meet our current and immediate future needs but the application could grow with us. Additionally we wanted to assure ourselves of the company that stood behind the solution. Surecomp demonstrated time after time the rich functionality of their solution, the professionalism of their team and their total commitment to meeting our needs” concluded Ms. Meekun-iam.
“As one of the leading Thai financial institutions with international recognition, Bank of Ayudhya has built a reputation for quality services, cutting-edge IT coupled with a formable management and a highly motivated employee base. We were quietly confident from the outset that Surecomp’s fully comprehensive STP end-to-end trade finance solution was the best fit for the bank. Naturally we are delighted that our faith in our solution has been formally endorsed by the Bank and we are looking forward to continuing our fruitful relationship with the Bank of Ayudhya” added Yuval Karp, Surecomp Vice President, Head - Customer Services division.