Swiss Commercial Capital strengthen their service platform with the licensing of Surecomp's allFAC

1 September 2008

Surecomp, a leading provider of receivables management and trade finance solutions for the global financial services community, announced today that Zurich-based Swiss Commercial Capital Ltd has licensed allFAC, Surecomp’s Java J2EE receivables management solution.

Swiss Commercial Capital becomes the fourth European financial institution to license allFAC this year.

Established in 2007, Swiss Commercial Capital’s management team combines decades of financial experience in a variety of industrial sectors, technology and structured finance with a proven track record in the origination, structuring and execution of multi-billion dollar trade receivable financing programs.

Focusing on global vendors seeking to drive value into their financial supply chains, Swiss Commercial Capital guides its clients with regard to credit control risk allowing them to move safely in to challenging markets while providing a competitive advantage through extended terms for buyers.

"In our search for a suitable factoring module to interface with the receivable financing platform, we identified two key required elements; real-time information streaming and sophisticated credit management." said Oliver Belin, Swiss Commercial Capital CFO, "These elements are pivotal in today's trade receivable financing market as our clients look to generate significant bottom-line improvements, creating a competitive advantage for all layers within a financial supply chain. We aim to work closely with our clients to offer a platform that provides vast improvements in the way they operate their businesses and allows them to create long-term value for their customers."

“allFAC provides the advanced technology and the sophisticated business modules that Swiss Commercial Capital requires as part of their own operating platform. Once implemented, allFAC will allow Swiss Commercial Capital to compete with the established industry leaders and strengthen their existing customer relationships” said Surecomp’s Moshe Wolfson, Vice President Sales - Europe.

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