SEB launches trade finance web community

17 November 2008

Swedish bank SEB has launched a new, web-based community to promote international knowledge sharing, discussion and networking between trade finance professionals.

The website, named the Benche, will allow companies from all over the world to swap information about trade conventions and conditions for different nations and regions, the bank said.

It added that the Benche will help its members to cut down on time and costs by allowing them to discuss everything from how to best open a letter of credit from Singapore to payment terms in Kenya online.

The site will also allow members to make new business contacts and SEB will regularly publish a FAQ and "Ask the Experts" section.

Lars Millberg, SEB's global head of trade finance, said the bank decided to establish the web community after a customer survey revealed that half of businesses in the sector are willing to share background data with others.

SEB was established in 1856. It now serves around 402,500 corporations and small-to-medium businesses, as well as some five million private customers across 20 northern and eastern European nations.

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