Toronto, 18 June 2024 – Surecomp® today announced that leading trade finance bank DZ BANK AG, has taken the next step in its ambitious plans to use the collaborative trade finance platform RIVO™ to further enhance its digital customer service delivery. The strategic decision to adopt RIVO™ is testament to the bank’s digital-first commitment to delivering superior customer experience based on secure and trustworthy technology hosted in Germany and Europe.
The Frankfurt-based bank – which serves as a trade finance hub to corporate customers in its own commercial bank function as well as those of the German cooperative financial network sector (with € 1,175 billion consolidated total assets as of Dec 31, 2023) – will use RIVO™ for real-time corporate communication, transaction status transparency and accelerated trade finance issuance. The platform will empower DZ BANK to facilitate smoother and faster funding transactions to both buyers and suppliers, enhancing liquidity and fostering stronger supply chain resilience for its customers with comprehensive supply chain finance capabilities.
With native integration to Surecomp’s back-office DOKA-NG™ solution, and centralized access to a host of innovative trade tech partner applications, RIVO™ offers DZ BANK and its customers a truly holistic trade finance experience. For example, the bank will use blockchain-based Enigio AB for robust and immutable digital guarantee exchange and another partner solution for document validity and verification.
“Adopting Surecomp’s RIVO™ represents a significant milestone in our mission to deliver superior trade finance services,” said Thomas Arendt, Head of Documentary Trade at DZ BANK. “Real-time access to this collaborative ecosystem will enable us to quickly and easily enhance our service delivery, revolutionizing customer experience while strengthening operational capabilities and giving us a competitive edge.”
“We are delighted to be supporting DZ BANK in its drive to optimize trade finance customer experience,” explains Yaron Hupert, SVP of Account Management at Surecomp. “RIVO is built to enable a fully digitized trade finance transaction process, ensuring unparalleled customer service, while guaranteeing data privacy and security, GDPR compliance and industry leading fraud mitigation, allowing DZ BANK to drive growth and bolster its regulatory and risk management capabilities.”
About DZ BANK:
DZ BANK is the second largest banking group in Germany and the central bank for more than 700 local cooperative banks, which are DZ BANK’s main shareholders. For its own customers and the SME customers of the cooperative banks, DZ BANK offers local and international banking services and solutions at the highest level. With a strong focus on innovation and customer satisfaction, DZ BANK constantly endeavours to improve its offering to meet the evolving needs of its customers. For more information visit: dzbank.com
