Santiago, Chile – February 29, 2012 – Surecomp, a leading provider of global trade solutions for financial institutions and corporations, announced today that Banco Monex, a member of Monex Grupo Financiero, has commenced production with allTRA, Surecomp's Java J2EE trade finance bank back-office solution.
Banco Monex will leverage allTRA to improve customer service, enhance efficiency, reduce processing charges, lower maintenance costs, and support the Bank's drive for a greater market share. Managed by Surecomp's Santiago-based Latin American operations, the allTRA implementation was completed in a single phase with all solution modules.
"Last year, we realized we needed to automate our trade services processes if we were to effectively support our customer base and grow our business. We needed a comprehensive solution that would take the place of spreadsheets, reduce the workload and pressure on our trade services department, and increase efficiency," said Mario de Icaza Bravo, Banco Monex's Credit Product Development Director. "Fortunately, we found Surecomp and allTRA."
"The successfully implementation of allTRA is a direct result of close cooperation between Banco Monex and Surecomp. I was most impressed with the dedication and professionalism of Banco Monex," said Joel Koschitzky, Surecomp Chairman.
About Banco Monex
With more than 25 years of experience in the financial sector, Banco Monex is recognized for its high level of leadership and quality of service. In addition to Banco Monex (banking services), Monex Grupo Financiero is comprised of Monex Casa de Bolsa (securities brokerage), Monex Operadora de Fondos (mutual funds) as well as its foreign subsidiaries, Monex Securities, Inc. (brokerage) and Tempus Consulting, Inc. (foreign exchange and payments). Monex Grupo Financiero's combined offering includes: foreign exchange trading, online banking services, investment funds, exchange market services (money, capital and investment banking), trust funds, corporate trusts, derivatives, international investing and trade finance products. For more information, visit www.monex.com.mx
Developed entirely in the advanced Java J2EE multi-platform environment, allTRA meets the trade finance requirements of banks of all sizes. allTRA streamlines the processing of a wide array of trade finance transactions including commercial and standby letters of credit (L/Cs), industrial revenue bonds, guarantees, collections, reimbursements and clean payments. Fully SWIFT-compliant, allTRA also provides enhanced support for all forms of financing such as acceptances, discounted paper and fixed/floating rate loans.
Surecomp is a leading provider of global trade solutions for financial institutions and corporations. Celebrating its 25th anniversary, Surecomp is a market pioneer with a proven track record delivering innovative solutions to major banks, financial services providers and enterprises worldwide. With a global network of regional offices and six state-of-the-art development centers, Surecomp successfully supports hundreds of installations in over 80 countries. Surecomp's integrated portfolio of trade finance, supply chain and treasury confirmation matching solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visit www.surecomp.com.