Toronto, Canada, 2 December 2021 – Surecomp today announced that it has successfully migrated all its global customers using SWIFT to the latest SR 2021-compliant version of their trade finance solution, proving once again its commitment to helping customers through ongoing regulatory change.
The new SWIFT standard release for bank guarantee payment messaging came into force on 22 November following significant pandemic-induced delays. A strategic project for more than two years, Surecomp has been working ahead of time with both its banking and corporate customers to ensure a seamless transition.
“Collaboration and advance preparation with our customers has proved to be the key to success,” explains Yaron Hupert, SVP of Account Management at Surecomp. “This type of project must be planned and well executed, with all parties adopting best practice methodologies. For the next major industry updates on the horizon – such as the adoption of ISO 20022 messaging and electronic document exchange supported by the MLETR framework – we encourage our customers to start the engagement now.”
“We are dedicated to ensuring our solutions are always ready to support the next regulatory requirements and for this many of our customers consider us a trusted advisor,” explains Gadi Komet, Surecomp’s Chief Operating Officer. “Thanks to the commitment and collaboration of our product and delivery teams, we’ve been able to support so many customers through regulatory change and I’m delighted that this SWIFT transition has resulted in such a positive outcome.”
“Many thanks for your effort and flexibility during both the preparation period and the implementation weekend. Your support has been instrumental in meeting the deadline,” expresses Els Valent, Area Lead at Rabobank in the Netherlands.
“Thanks to your team for the smooth transition to SR2021,” states Nitin Mahajan, SVP of IBG Technology team at DBS Singapore
“A true success story and the result of great cooperation and team-work.”
– Head of Trade Finance at a leading European bank
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