October 16, 2013 - Surecomp®, – Surecomp®, a leading provider of global trade solutions for banks and corporations, has announced that Nordea, the largest financial services group in Northern Europe, has acquired Surecomp’s trade finance solution suite for its global operations. Nordea has licensed IMEX®, Surecomp’s world-leading trade finance back-office platform, allNETT®, Surecomp's Web-based trade finance front-end and SCF-PRO®, Surecomp’s supply chain finance solution.
Headquartered in Stockholm, Nordea is acknowledged as a regional leader in both the wholesale and retail banking markets. Nordea maintains operations across the Nordic and Baltic Sea region in nine countries including Denmark, Finland, Norway, Sweden, Estonia, Latvia, Lithuania, Poland and Russia. Nordea’s international corporate banking division operates branches in Germany, the UK, Singapore, China and the US.
Nordea embarked on a rigorous and extensive analysis of multiple trade finance systems, in which Surecomp went head-to-head with other major market vendors. Ultimately, Nordea decided to purchase Surecomp’s IMEX V7.0, allNETT V5.0 and SCF-PRO V1.2. These latest product versions include various new features and functionalities that will enable Nordea to enhance its position as the dominant trade finance bank in its regional market and strengthen its international trade finance operations. Nordea plans to roll out the new systems in 14 countries in a two-stage process, with the allNETT front end to be quickly implemented first for the benefit of Nordea’s corporate clients.
“We were determined to conduct an unbiased and in-depth review of all suitable back-office and front-end systems. Understanding how rapidly the trade finance market has changed in recent years, it was important for us to maintain relevance and leverage the latest innovations currently available,” said Masood Arai, Vice President, Head of Trade Finance Global Development] at Nordea. “The combination of Surecomp’s innovative products, profound market knowledge, and in-depth appreciation of our requirements and aspirations made the difference. We now have a secure cutting-edge platform on which to consolidate and expand our trade finance activities - enabling better support and reach for our customers. Creating greater customer experience is always the aim. We are confident that the new implementation of IMEX, allNETT and SCF-PRO will generate a wealth of trade finance business opportunities for Nordea – both in the region and further afield – as our business activities expand.”
“Surecomp welcomes the challenge and responsibility bestowed upon us by Nordea,” said Joel Koschitzky, Surecomp Chairman. “The rigorous evaluation of our trade finance suite of products by Nordea in its search for a state-of-the-art trade finance solution has become an increasingly common theme. More and more trade finance banks are challenged by their corporate clients to cut processing times, reduce operational fees, and provide 24/7 support – and Surecomp helps them achieve these important objectives.”
Nordea is the largest financial services group in Northern Europe with a market capitalisation of approximately EUR 35bn, total assets of EUR 622bn and a core tier 1 capital ratio of 14.0%. Nordea has leading positions within corporate merchant banking as well as retail banking and private banking. It is also the leading provider of life and pensions products in the Nordic countries. With approximately 900 branches, call centres in all Nordic countries and a highly competitive e-bank, Nordea has the largest distribution network in the Nordic and Baltic Sea region. Nordea has the largest customer base of any financial services group in the Nordic region with approximately 11 million customers including new European markets, of which 10 million are household customers in customer programmes and 0.6 million are corporate customers. Nordea’s vision is to be a Great European bank, acknowledged for its people, creating superior value for customers and shareholders. For more information, visit www.nordea.com.
About Surecomp’s End-to-End Trade Finance Solution Suite
Surecomp delivers an integrated end-to-end trade finance solution 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 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 a leading provider of global trade solutions for banks and corporations. Established in 1987, Surecomp is a market pioneer with 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 please contact: firstname.lastname@example.org.