Surecomp, a leading provider of integrated trade finance and factoring solutions for the banking and financial market, announced today that Stockholm-headquartered Swedbank has licensed IMEX V6.3 on the mainframe platform. Swedbank will use IMEX to drive greater efficiency and streamlining in its regional trade finance activities.
Swedbank, known as FöreningsSparbanken in Sweden, is Sweden’s fourth largest banking group and ranked amongst the top 150 banks worldwide. Swedbank successfully implemented NetIMEX, Surecomp’s Internet-based trade finance customer front end, last year.
Johan A. Engstrom, Swedbank Senior Vice President and Head of IT Strategy and Processes explains the thinking behind the Bank’s decision to license the latest version of IMEX. “Success in the trade finance business is simply survival of the fittest. A low cost base and a plan to aggressively drive down costs are key survival strategies. Being in the enviable position of offering our customers a paperless STP front-to-back trade finance solution is an integral just part of the equation. Swedbank will now be able to harness the intuitiveness, flexibility and rich functionally of IMEX V6.3.”
“The relationship we have with our vendors is no-less important than that we have with our customers. Both are based on a partnership and confidence in the other. In Surecomp we have the professional partner to help us meet and beat our trade finance goals” concluded Johan A. Engstrom.
Yuval Karp, Surecomp’s Chief Operating Officer (COO), Trade Finance Solutions commented “We are naturally delighted by the vote of confidence given Surecomp by Swedbank. Working with Swedbank has been a pleasurable experience and we look forward to continuing to work with the Bank in helping them profitably control and manage their trade finance operations for many years to come.”