London, United Kingdom – February 17, 2014 – Surecomp®, the leading global provider of trade finance solutions for banks and corporations, announced today the signing of a licensing agreement with Bank BPH, a leading Polish bank. Under the terms of the agreement, Bank BPH, a longtime user of Surecomp’s IMEX® and allNETT® trade finance banking systems, will implement IMEX 7.0, the latest version of Surecomp’s high-volume back-office solution.
Headquartered in the port city of Gdańsk, Bank BPH ranks among Poland’s top ten banks and the world’s top one thousand banks. Part of GE Capital, Bank BPH is a subsidiary of General Electric, one of the largest corporations worldwide.
After reviewing various market options, we opted for an agreement with Surecomp, the leader in developing next-generation trade finance back-office and front-end systems for banks,” said Jerzy Zan, Managing Director, Commercial Banking Products Department at Bank BPH. “Our agreement with Surecomp is a significant milestone in our continued efforts to position Bank BPH as Poland’s leading trade finance bank. We believe that our ongoing collaboration will enable us to gain even more momentum in trade services, while providing a new range of beneficial features and functionalities for our corporate clients.”
Scheduled to start implementation in late 2014, the project will provide Bank BPH with a next-generation end-to-end trade finance solution. Presenting a range of innovative features, IMEX 7.0 streamlines operations to greatly increase productivity and transaction processing throughput. By automating rule-driven tasks, IMEX reduces errors and associated costs, improves risk management, and ensures compliance with regulatory standards.
“We are pleased that Bank BPH will continue to drive its trade finance services with the latest version of IMEX. Our long-running partnership with Bank BPH has helped the bank create and operate an effective front-to-back trade finance solution that serves as a model of best industry practices,” said Joel Koschitzky, Surecomp Chairman. “Surecomp has pioneered the trade finance solution market since its inception in 1987. As a market leader, we continue to invest heavily in the development of our product suite to provide diverse bank and corporate solutions to meet varying client requirements.”
“Given that Bank BPH and Surecomp have partnered fruitfully for two decades, the bank’s selection of IMEX 7.0 was a natural progression in our working relationship,” said Raphael Barisaac, Surecomp Vice President Europe and Global Head, Trade Finance & Supply Chain Finance. “We are proud to continue our partnership with Bank BPH, and will work hard to provide the bank with unrivaled products and support in the years ahead.”
About Bank BPH
Bank BPH SA is a Poland-based commercial bank offering services to corporate and individual clients. Established in 1989, Bank BPH went public on the Warsaw Stock Exchange in 1995. After General Electric became its majority shareholder in 2008, Bank BPH merged with GE Money Bank on December 31, 2009, and has since operated under the name Bank BPH SA. For additional information in Polish, visit www.bph.pl. For additional information in English, visit www.bph.pl/pl/investor_relations/about_the_bank.
About Surecomp’s End-to-End Trade Finance Solution Suite
Surecomp delivers integrated end-to-end trade finance solutions comprised of best-of-class front-end and back-office systems. Surecomp offers several back-office trade finance systems, each targeted for different levels of usage, geographical location and IT infrastructure. Regardless of clients’ location, size, geographical spread of operations, or transaction volume, Surecomp has a seamless automated trade finance solution that meets and surpasses client requirements.
Surecomp is the leading global provider of trade finance solutions for banks and corporations. A market pioneer for over 25 years, Surecomp maintains a proven track record delivering innovative solutions 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 finance and treasury confirmation matching solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visit www.surecomp.com.