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  • Bank Btpn In Indonesia Streamlines Trade Finance Processing

    Surecomp, a leading provider of global trade finance solutions, has announced that PT. Bank BTPN Tbk (BTPN), one of the leading privately-owned banks in Indonesia and part of the SMBC Group, has gone live with its DOKA solution.

    This solution is aimed at streamlining BTPN’s back-office trade finance processing automation, replacing the bank’s previous trade finance application.

    According to a recent report by the International Chamber of Commerce, Asia is the world’s largest region for trade finance, with a total of $1.98 trillion in trade finance issued in 2020. Indonesia is one of the key players in this region, with trade finance playing a crucial role in the country’s economic growth.
    The DOKA solution, which is hosted in Jakarta, has been fully deployed and supported by Surecomp’s local teams in Asia.

    Read more: https://ngulminthang.weebly.com/news/bank-btpn-in-indonesia-streamlines-trade-finance-processing

    #Surecomp #BTPNBank #tradefinance #Indonesiastreamlines #DOKAsolution #SupplyChain #NgulminthangLhanghal
    Bank Btpn In Indonesia Streamlines Trade Finance Processing Surecomp, a leading provider of global trade finance solutions, has announced that PT. Bank BTPN Tbk (BTPN), one of the leading privately-owned banks in Indonesia and part of the SMBC Group, has gone live with its DOKA solution. This solution is aimed at streamlining BTPN’s back-office trade finance processing automation, replacing the bank’s previous trade finance application. According to a recent report by the International Chamber of Commerce, Asia is the world’s largest region for trade finance, with a total of $1.98 trillion in trade finance issued in 2020. Indonesia is one of the key players in this region, with trade finance playing a crucial role in the country’s economic growth. The DOKA solution, which is hosted in Jakarta, has been fully deployed and supported by Surecomp’s local teams in Asia. Read more: https://ngulminthang.weebly.com/news/bank-btpn-in-indonesia-streamlines-trade-finance-processing #Surecomp #BTPNBank #tradefinance #Indonesiastreamlines #DOKAsolution #SupplyChain #NgulminthangLhanghal
    NGULMINTHANG.WEEBLY.COM
    Bank Btpn In Indonesia Streamlines Trade Finance Processing
    Surecomp, a leading provider of global trade finance solutions, has announced that PT. Bank BTPN Tbk (BTPN), one of the leading privately-owned banks in Indonesia and part of the SMBC Group, has gone live with its DOKA solution.
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  • Democratising The Trade Finance Process Through Digitalisation

    The World Trade Organisation (WTO) estimates that 80–90% of world trade relies on trade finance. It is a mechanism that not only ensures security between importers and exporters but can also extend a line of credit to companies desperately needing cashflow to get their operations moving.
    Pandemic disruptions, political upheaval and currency fluctuations have made companies more nervous to trade internationally.

    “With every crisis, trust among the participants goes down and that’s when you reconsider the risk that is involved in open account transactions,” says Enno-Burghard Weitzel, senior vice president of Strategy, Digitalisation and Business Development at Surecomp.

    “The more insecure these financial flows to physical supply chains are, the more you want to secure them with a guarantee” from trusted financial intermediaries. Unfortunately, trade finance has not always been a straightforward solution due to an excessively manual process, and a lack of access to smaller corporates who might not have the know-how to get the best deals.

    Read more: https://ngulminthanglhanghal.wordpress.com/2023/05/22/democratising-the-trade-finance-process-through-digitalisation/

    #tradefinance #WorldTradeOrganisation #Digitalisation #Democratising #supplychains #Surecomp #NgulminthangLhanghal
    Democratising The Trade Finance Process Through Digitalisation The World Trade Organisation (WTO) estimates that 80–90% of world trade relies on trade finance. It is a mechanism that not only ensures security between importers and exporters but can also extend a line of credit to companies desperately needing cashflow to get their operations moving. Pandemic disruptions, political upheaval and currency fluctuations have made companies more nervous to trade internationally. “With every crisis, trust among the participants goes down and that’s when you reconsider the risk that is involved in open account transactions,” says Enno-Burghard Weitzel, senior vice president of Strategy, Digitalisation and Business Development at Surecomp. “The more insecure these financial flows to physical supply chains are, the more you want to secure them with a guarantee” from trusted financial intermediaries. Unfortunately, trade finance has not always been a straightforward solution due to an excessively manual process, and a lack of access to smaller corporates who might not have the know-how to get the best deals. Read more: https://ngulminthanglhanghal.wordpress.com/2023/05/22/democratising-the-trade-finance-process-through-digitalisation/ #tradefinance #WorldTradeOrganisation #Digitalisation #Democratising #supplychains #Surecomp #NgulminthangLhanghal
    NGULMINTHANGLHANGHAL.WORDPRESS.COM
    Democratising The Trade Finance Process Through Digitalisation
    Trade finance offers exceptional growth opportunities for businesses looking to trade internationally, but has sadly lagged behind other services due to its complicated nature and high barrier to e…
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  • Interoperability Between Digital Trade Finance Solutions On The Rise

    Trade is the engine of the global economy, but trade financing is complex and traditionally reliant on paper. One pain point for many financial institutions has been the lack of a network to support collaborative workflows within the trade ecosystem, and a lack of interoperability between solutions.

    Surecomp today (March 16) announced that it is partnering with Contour, one of the global digital trade finance networks, as part of a collaborative vision to drive the digital transformation of trade finance across financial institutions.

    Surecomp has over 35 years of expertise in digitising trade finance processes and its integration with Contour’s decentralised network of banks and corporates will provide users with a fully integrated end-to-end trade service solution.

    Through the collaboration with Surecomp’s trade finance platform RIVO, Contour’s member banks will be able to access digital Letter of Credit workflows directly on Surecomp’s back-office applications, providing straight-through automated processing, reducing costs, improving operational efficiency and optimising profitability.

    Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/interoperability-between-digital-trade-finance-solutions-on-the-rise

    #digitaltradefinance #Surecomp #Contour #tradefinance #LetterofCredit #NgulminthangLhanghal
    Interoperability Between Digital Trade Finance Solutions On The Rise Trade is the engine of the global economy, but trade financing is complex and traditionally reliant on paper. One pain point for many financial institutions has been the lack of a network to support collaborative workflows within the trade ecosystem, and a lack of interoperability between solutions. Surecomp today (March 16) announced that it is partnering with Contour, one of the global digital trade finance networks, as part of a collaborative vision to drive the digital transformation of trade finance across financial institutions. Surecomp has over 35 years of expertise in digitising trade finance processes and its integration with Contour’s decentralised network of banks and corporates will provide users with a fully integrated end-to-end trade service solution. Through the collaboration with Surecomp’s trade finance platform RIVO, Contour’s member banks will be able to access digital Letter of Credit workflows directly on Surecomp’s back-office applications, providing straight-through automated processing, reducing costs, improving operational efficiency and optimising profitability. Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/interoperability-between-digital-trade-finance-solutions-on-the-rise #digitaltradefinance #Surecomp #Contour #tradefinance #LetterofCredit #NgulminthangLhanghal
    NGULMINTHANGLHANGHAL.MYSTRIKINGLY.COM
    Interoperability Between Digital Trade Finance Solutions On The Rise
    New partnerships will streamline and simplify trade finance processing, leading to new business opportunities, improved trade productivity.
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  • Surecomp Debuts Duplicate Financing Fraud Prevention

    Surecomp is launching a new offering that uses advanced cryptographic technology to allow financial institutions (FIs) to lessen the risk of duplicate financing fraud, according to a Tuesday (April 12) press release.

    The new product features an invoice comparison process that helps to identify whether there is any suspicious activity detected against a specific invoice and ensure that no confidential information leaves the bank, the release says.

    “We’ve seen a dramatic rise in duplicate trade financing fraud, with billions of dollars being lost and many banks reviewing their appetite for risk which has further impacted the trade finance gap,” Surecomp SVP of Strategy and Business Development Enno-Burghard Weitzel said in the press release.

    “We believe that an effective fraud prevention solution is a must have for banks to sustain their trade finance business and therefore we’re offering this to all banks free of charge as an industry utility,” he said.

    Surecomp’s new tool looks for unrecognizable hashed crypto document fingerprints using a global validation database and allows any financier to check and compare trade documents without having to disclose any customer information.

    It also enhances the visibility of invoice status and promotes industry collaboration through a shared open API-based repository, according to the press release.

    Read more: https://ngulminthang.weebly.com/news/surecomp-debuts-duplicate-financing-fraud-prevention

    #SurecompDebuts #duplicatefinancingfraud #financialinstitutions #tradefinancingfraud #Ngulminthang #NgulminthangLhanghal
    Surecomp Debuts Duplicate Financing Fraud Prevention Surecomp is launching a new offering that uses advanced cryptographic technology to allow financial institutions (FIs) to lessen the risk of duplicate financing fraud, according to a Tuesday (April 12) press release. The new product features an invoice comparison process that helps to identify whether there is any suspicious activity detected against a specific invoice and ensure that no confidential information leaves the bank, the release says. “We’ve seen a dramatic rise in duplicate trade financing fraud, with billions of dollars being lost and many banks reviewing their appetite for risk which has further impacted the trade finance gap,” Surecomp SVP of Strategy and Business Development Enno-Burghard Weitzel said in the press release. “We believe that an effective fraud prevention solution is a must have for banks to sustain their trade finance business and therefore we’re offering this to all banks free of charge as an industry utility,” he said. Surecomp’s new tool looks for unrecognizable hashed crypto document fingerprints using a global validation database and allows any financier to check and compare trade documents without having to disclose any customer information. It also enhances the visibility of invoice status and promotes industry collaboration through a shared open API-based repository, according to the press release. Read more: https://ngulminthang.weebly.com/news/surecomp-debuts-duplicate-financing-fraud-prevention #SurecompDebuts #duplicatefinancingfraud #financialinstitutions #tradefinancingfraud #Ngulminthang #NgulminthangLhanghal
    NGULMINTHANG.WEEBLY.COM
    Surecomp Debuts Duplicate Financing Fraud Prevention
    Surecomp is launching a new offering that uses advanced cryptographic technology to help financial institutions to lessen the risk of duplicate financing fraud.
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