May 13, 2013 – Surecomp®, a leading provider of global trade solutions for banks and corporations, today announced that Siam Commercial Bank (SCB) has recently commenced production with Surecomp’s end-to-end trade finance solutions. SCB is ranked as one of Thailand’s top three banks and among the top 300 banks globally.
The end-to-end solution deployed at SCB comprises IMEX®, Surecomp’s flagship trade finance back-office offering, and allNETT®, the vendor's Java Web-based trade finance front-end system. Implemented on a UNIX platform, the fully automated front-to-back Surecomp offering replaces a competitor solution that was never fully functional at the Bank.
“Given the need to keep our Trade Finance Department fully operational during the implementation period, the smooth deployment of the end-to-end solution is a remarkable accomplishment, and both SCB’s and Surecomp’s project teams can be justifiably proud,” said Trirong Butragaht, SCB Executive Vice President. “Completing the implementation as planned, and subsequently moving to full production, enables the Bank to better compete and stake our claim as Thailand’s leading provider of trade services.”
“In reviewing our personnel who were involved in this complex multi-stream project, I found that some 28 Surecomp professionals – encompassing a wide range of implementation and functional disciplines – contributed to its success,” remarked Joel Koschitzky, Surecomp Chairman. “This yet again demonstrates Surecomp’s in-depth strengths in product development and customer support, and reaffirms our policy of channeling 80% of our outstanding human resources into these critical areas.”
About Siam Commercial Bank
With more than 1,000 domestic branches and representation across Southeast Asia, SCB is Thailand's first indigenous bank and the country's third largest commercial bank. Publicly traded on the Stock Exchange of Thailand (SET) with headquarters in Bangkok, SCB provides a full range of financial services. In addition to retail, corporate and wholesale banking, SCB is engaged in foreign currency operations, international trade financing, cash management, custodial services, credit and charge card services, and investment banking services. For additional information, visit www.scb.co.th.
About Surecomp’s End-to-End Trade Finance Solution Suite
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 client requirements.
Surecomp is a leading provider of wholesale banking solutions for the financial services community. Established in 1987, Surecomp 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 over 60 countries. Surecomp’s integrated portfolio of trade finance, supply chain solutions and reconciliation solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information.