London â May 7, 2004 â Surecomp, a leading provider of trade finance solutions for the financial services industry, announced today the release of NetLC, a powerful software product enabling corporate and commercial users to initiate and monitor Letters of Credit (L/C) in-house. Highly flexible and easy to use, NetLC provides corporations with the ability to select the bank at which their self-generated L/Cs should be processed. NetLC facilitates and automates the burdensome task of document preparation.
NetLC includes field-proven multi-banking and electronic data interchange (EDI) capabilities based on cutting-edge Java technology. NetLC can be deployed on different web servers.
"NetLC is clearly a major step forward in the trend toward corporate independence and flexibility," says Paul Thomas, Surecompâs Director of Global Sales and Marketing. "Itâs a perfect example of convergence between the banking and business worlds."
By means of a standard browser, NetLC automates and streamlines the in-house generation of L/Cs, thereby guaranteeing both processing efficiency and highly accurate output. NetLC supports a full range of trade finance modules; including standby L/Cs, amendments, payments and acceptances, guarantees, clean payments, and export collections. NetLC also generates a wide array of inquiries and reports.
Offering three distinct channels of communication â Bolero, FTP and e-mail â NetLC incorporates document preparation and Bolero modules as well as a range of customizable templates.
NetLC further harnesses the power of the Internet by allowing corporate users to move initiated L/Cs through their internal Intranet system. Secondary corporate-location users also can gain access to the initiated L/Cs by means of a sophisticated workflow and hub structure.
"After talking to many national and international corporations and commercial customers worldwide, we developed NetLC." says Paul Thomas. "NetLC is a fully flexible, scalable, and easy-to-learn solution that meets the needs of all corporations, regardless of their trading style."