April 10, 2013 Jyske Bank, a leading Danish bank, has commenced production with Surecomp’s end-to-end trade finance solution.
The end-to-end solution comprises allNETT®, Surecomp's Java Web-based trade finance front end, and IBSnet®, the vendor's Windows-based back-office trade finance system.
Founded in 1967 in Aarhus, the regional capital of the Jutland province, Jyske Bank was created following the merger of four local banks. Over the years, another three local banks joined together under the Jyske Bank banner.
Jyske Bank is jointly owned by some 230,000 individual shareholders.
“The implementation of Surecomp’s end-to-end trade finance solution was completed as planned. This was an amazing achievement given the need to balance the business requirements of our users with the IT requirements of Bankdata, our remote IT hosting company,” remarked Elisabeth Lautrup, Senior Product Owner at Jyske Bank. “Completing the implementation has allowed us to switch our focus to our core activities and other equally important projects.”
Joel Koschitzky, Surecomp Chairman remarked; “I am proud of the cooperation between the Surecomp team and their dedicated counterparts at Jyske Bank and Bankdata which resulted in a smooth and successful deployment process. Surecomp looks forward to continuing our close collaboration with Jyske Bank in the years ahead.”
About Jyske Bank
Jyske Bank employs some 3,600 employees operating over 100 branches in Denmark. The Bank offers a full range of financial solutions to retail customers as well as SME corporate clients. The Bank operates a retail branch in Hamburg and offers investment advisory services to private individuals from its offices in Zurich, Gibraltar, Cannes, Copenhagen and Weert, The Netherlands. Additional operations include leasing, payroll systems and IT hosting. Jyske Bank is one of 13 Danish banks that co-own Bankdata, the country’s leading financial IT hosting company.
Featuring modular object-oriented architecture coupled with a friendly graphical user interface, IBSnet enables users to process import, export and standby L/Cs, collections, payments, guarantees, steamship indemnities, air releases, and all means of financing. A totally configurable application, IBSnet reduces turnaround time for transaction processing, leading to dramatic productivity gains. IBSnet seamlessly interfaces with Surecomp’s trade finance customer front end allNETT® to provide a fully comprehensive STP end-to-end trade finance solution that automates banks’ trade service operations.
Surecomp is a leading provider of wholesale banking solutions for the financial services community. Established in 1987, Surecomp is a market pioneer with a proven track record delivering innovative solutions to major banks and financial services providers worldwide. With a global network of regional offices and state-of-the-art development centers, Surecomp successfully supports hundreds of installations in over 60 countries. Surecomp’s integrated portfolio of trade finance, supply chain solutions and reconciliation solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visitwww.surecomp.com.