London – June 30, 2011 – Surecomp, a leading provider of global trade solutions for financial institutions and corporations, announced today that Siam Commercial Bank (SCB), Thailand’s largest branch network bank, has licensed Surecomp’s end-to-end trade finance solution. Based on the agreement, SCB will deploy IMEX, Surecomp’s world-leading back-office trade finance system, and allNETT, the vendor’s Java J2EE Web-based trade finance front end.
Since its establishment in 1904, SCB has played an integral role in developing Thailand’s economy and assuring the country’s financial independence. Ranked among the world’s top 400 banks, SCB intends to harness the power, flexibility and versatility of Surecomp’s fully integrated best-of-class solution to grow its domestic and regional trade finance business.
“Our mission is to become Thailand’s premier universal bank with a strong focus on key financial markets and customer segments,” said Parnkae Nandavisai, SCB First Executive Vice President. “As such, we’re continually seeking innovative products and systems that enable us to deliver world-class service to our customers, and Surecomp’s end-to-end solution fits the bill. By leveraging the company’s market-leading offering as well as our established position in Thailand, we’re confident that we can successfully address our customers’ toughest challenges and become the country’s number one trade finance bank.”
Implemented on a UNIX platform, SCB’s front-to-back solution is comprised of Surecomp’s IMEX and allNETT. IMEX is a world-leading browser-based back-office solution that fully addresses the diverse needs of a financial institution’s trade services department. allNETT is a bank/corporate front end for initiating trade finance transactions and extracting wide-ranging inquiries and reports.
“SCB required a tried-and-tested stable trade finance solution with an efficient and secure infrastructure to ensure sustained business growth,” said Joel Koschitzky, Surecomp Chairman. “Our end-to-end offering provides SCB with a robust processing environment for delivering superior services and products that meet customer demand while helping the Bank build up its trade finance business in Thailand and across the region. We’re proud to welcome SCB to the Surecomp family, and look forward to a long and beneficial partnership with the bank.”
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 fourth 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 global trade solutions for financial institutions and corporations. Established in 1987, 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 75 countries. Surecomp’s integrated portfolio of trade finance, supply chain solutions and treasury confirmation matching solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visit www.surecomp.com.