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Bank PKO Warsaw selects Surecomp’s integrated trade finance solution as #1

Surecomp, a leading provider of global trade solutions for the financial services community has confirmed that Bank PKO, Poland’s leading bank, has opted for Surecomp’s fully comprehensive STP end-to-end trade finance solution to automate their trade service operations.

Established in 1919, Bank Powszechna Kasa Oszczędności, is the principal member of the highly successful PKO BP Capital Group. The Bank and its dependent group partner companies, each specializing in their own area of financial services including: leasing, investment funds, pension funds, electronic payment services through the use of bank cards, and a variety of related services, each achieve and surpass their individual business targets. The diversity of each partner ensures the effective synergy of the PKO BP Group as a whole.

The added-value that the PKO Capital Group injects into Poland’s economy is demonstrated by the depth of the groups’ activities:

  • Management of 23 separate funds
  • More than 17 thousand square meters of property under management
  • 475 thousand S&ME business accounts
  • Leased value of capital goods in 2007 in access of 1,371.26 million PLN (EUR 410,864M)
  • 2007 witnessed the breaking of the 100 million e-service transactions barrier

PKO’s reputation is built on the principles that the customer is the Bank’s most important asset, that corporate responsibility extends to both the country’s physical and financial environment, and that the Bank has an obligation to ensure and create conditions for the employees to thrive professionally, and ensure the effective management of shareholder capital.

These principals are self-evident in the awards and distinctions Bank PKO has received to date in 2008 including:

  • Ranked 1st by the UK-published The Banker magazine in a review of Poland’s top 50 banks by financial results
  • “Diamond Status” awarded by the Polish Business Leader forum
  • “Brand of the best reputation 2008” in the finance category from an independent survey of Polish banks.

Entitled the Future Challenges, Bank PKO has embarked on a 5 year multi-strategy growth plan which will carry the Bank through to 2012. While building on its substantial retail market, a key element of the Bank’s growth is the expansion of its wholesale banking business, including trade finance. Combining a pro-active strategy with visionary aspirations and objectives, PKO will continue to shape the future and remain a leader of the Polish banking sector while enhancing its regional footprint.

Following the signing ceremony Tomasz Mironczuk, Vice President of the PKO Management Board commented on the selection of Surecomp’s integrated trade finance solution by the Bank, “the Bank’s current plan has developed from the natural consequence of the rapidly maturing Polish banking market. This includes the results of ownership changes to the structure of Polish banks, M&A strategies and the development of modern distribution banking channels.”

“To enable us to establish ourselves as the country’s foremost trade finance bank we looked not only for a solution that was well established in Poland and the region in general but for a vendor who would become a true partner in our continued growth and development. Surecomp offers us a tried and tested trade finance solution coupled with assured long-term stability and on-going development support” concluded Tomasz Mironczuk.

Speaking on behalf of Surecomp, Moshe Wolfson Vice President Sales, Europe said “we appreciated the detailed degree of examination undertaken by Bank PKO – not only of our solutions but of Surecomp as a vendor. It’s essential that our customers have complete confidence and trust, and we openly encourage the delving ‘under the hood’ to see what is really going on. We are excited by the opportunities offered by partnering with Bank PKO; being aware of their ambitions to build and retain a competitive edge through improved customer service levels, introduction of new products and attractive and aggressive revenue pricing policy.”

About Bank PKO
The Polish state treasury holds 51.49% shareholder stake in the Bank with the remaining 48.51% being held by private and institutional shareholders. For further information visit:www.pkobp.pl

About Surecomp’s suite of automated trade finance banking solutions
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 requirements.

About Surecomp
Established in 1987, Surecomp [www.surecomp.com] is a market pioneer with a proven track record delivering innovative solutions to major banks and financial services providers worldwide. With a global network of regional offices and state-of-the-art development centers, Surecomp successfully supports hundreds of installations in more than 60 countries. Surecomp’s integrated portfolio of receivable management and trade finance solutions streamlines the transaction lifecycle to minimize costs and maximize profits