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Grupo Financiero Producción races forward with allNETT

Surecomp, a leading provider of global trade finance solutions for the financial services community, today announced that Ecuador’s Grupo Financiero Producción has licensed and is in the process of implementing allNETT, Surecomp’s highly acclaimed Java J2EE Internet-based trade finance customer front-end for it’s branches in Ecuador and Panama.

Award by the UK-based The Banker magazine the title of Bank of the Year in Ecuador for 2007, Produbanco joins an exclusive group of Latin American banks able to offer their corporate customers the ability to initiate and monitor their trade finance transactions via Internet.

Established in 1978, Produbanco is recognized as dual leader in providing advanced financial services coupled with highly efficient levels of customer service. Hailed as market pioneer, Produbanco reflects a new breed of bank in Ecuador following the financial crises that saw only the best-administered banks surviving.

A leading member of Grupo Financiero Producción, Produbanco, the country’s third largest private bank, accounts for 81% of group assets. Traditionally focused on the corporate and private market, the bank has recently expanded into consumer banking, supporting its growing customer base through more than 68 branches and 65 Servipagos [Service Payments Centers].

Announcing the licensing of allNETT, Produbanco’s Guillermo Moreano, Vice President, Operations & Technology commented, “We have every confidence that with Surecomp we will make rapid progress in fully automating our trade finance processing with our clients in Ecuador as well as in Panama.”

In response Surecomp’s Jack Omar Villacis, Vice President, Sales – The Americas responded, “The prospect of partnering with Banco de la Producción excites us.”

“Produbanco stands ready to take to market one of the strongest, most comprehensive Internet-based trade finance solutions. By integrating allNETT with the bank’s in-house trade finance back office, Surecomp will enable Produbanco to provide best in class solution; a truly seamless service to their corporate customers. This will give Produbanco a national and regional competitive advantage while also improving service quality and convenience for end user customers” concluded Villacis

About Produbanco
Banco de la Producción (www.produbanco.com) offers its corporate customers an ongoing commitment to continue to deliver innovative financial solutions, the highest levels of service while expanding its Value Proposition to customers and investors.

About allNETT
allNETT is an Internet-based Trade Finance System, designed for use by a Bank’s corporate and commercial customers and, as an option, by the Bank’s branches. allNETT allows the user, via a standard browser, to both initiate transactions including Letters of Credit, Standby Letters of Credit, Amendments, Payments and Acceptances, Guarantees, Clean Payments and Export Collections, and to extract a wide range of inquiries and reports. allNETT fully interfaces with Surecomp’s range of trade finance back office solutions, as well as other back office trade finance systems. allNETT can also be operated as a stand-alone system.

About Surecomp
Surecomp (www.surecomp.com) is a leading provider of global trade solutions for the financial services community. A market pioneer with a two-decade proven track record for delivering innovative solutions to major banks and financial services providers worldwide, Surecomp’s global network of regional offices and state-of-the-art development centers successfully supports hundreds of installations in more than 60 countries. Surecomp’s integrated portfolio of trade finance, factoring, cash letter and reconciliation solutions streamlines the transaction lifecycle to minimize costs and maximize profits.