Hoboken, New Jersey – June 21, 2012 – Surecomp, a leading provider of global trade solutions for banks and corporations, announced today that Quito-based Banco Internacional Ecuador has commenced production with Surecomp's allTRA-driven end-to-end trade finance solution.
The front-to-back solution comprises allTRA, Surecomp's Java J2E flexi-scale back-office trade finance system, and allNETT, the vendor's Java J2E Web-based trade finance front end. The Bank is harnessing the power, flexibility and versatility of Surecomp's fully integrated best-of-class solution, thereby confirming its status as leader in Ecuador's trade finance market.
Established in 1973, and viewed as a solid and reliable institution, Banco Internacional of Ecuador is a member of the Spanish IF Group (Grupo Fierro), which also includes Banco Exterior in Venezuela, Banco Interamericano de Finanzas (BIF) in Peru, Banco Internacional in Guatemala, International Finance Bank (IFB) in the United States, and EBNA Bank in Curacao. With 10,000 professionals spread across 20 economic sectors, the IF Group maintains operations in Spain, Latin America and the United States.
"At the time of licensing allTRA and allNETT, I confirmed that the bank selected Surecomp's bank back-office and corporate front-end solutions because we felt they were the best fit and would allow us to consolidate our position as the bank of choice for corporate and business users," said Rafael Pazmiño Holguín, Banco Internacional's Vice President, Trade Services. "We have not been disappointed in our selection. Throughout the implementation period Surecomp has time and again demonstrated their in-depth project management skills, knowledge and understanding of our unique requirements and all with a level of professionalism beyond our expectations."
About Banco Internacional
Banco Internacional is the fifth largest bank in Ecuador with total assets of US$1,732 million and total deposits of US$1,520 million. The Bank's network of 87 branches and 400+ ATMs spread throughout the country provides the backbone to a wide range of financial services offered mainly to corporate and medium-sized companies and individuals. The Bank's portfolio of services includes commercial loans, trade finance transactions, savings and money market accounts, personal loans, credit cards and mortgages. For more information, visit www.bancointernacional.com.ec.
About the IF Group
The IF Group has built solid corporate values based on strategic management to ensure total customer satisfaction, profitability for its shareholders, development of group employees, and contribution to environmental progress. For more information, visit www.grupoif.com.
About Surecomp's End-to-End Trade Finance Solution Suite
Surecomp delivers integrated end-to-end trade finance solutions 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 financial institutions and corporations. Celebrating its 25th anniversary, Surecomp is a market pioneer with a proven track record delivering innovative solutions to major banks, financial services providers and enterprises 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 and treasury confirmation matching solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visit www.surecomp.com.