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Surecomp today announced the acquisition of ELCY Ltd, a UK-based digital trade finance solution provider. This strategic move reinforces Surecomp’s commitment to driving digital trade finance transformation through innovation and collaboration. The ELCY multi-bank solution, elcyMBP, will become a module on Surecomp’s RIVO™ platform, creating a more consolidated digital trade finance ecosystem, enabling Surecomp to deliver even greater value, efficiency, transparency and growth.

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Toronto, 20 November 2024 - Surecomp today announced it commits to reducing bank guarantee processing time by thirty percent with the help of Artificial Intelligence (AI). Through the integration of AI-powered email-to-text conversion technology, the development to its collaborative trade finance RIVO™ platform aims to address the inefficient, manual guarantee text checks which are a key source of issuance delays impacting trade volumes and supply chains.

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