Commercialized by SWIFT in 2007, the Trade Services Utility (TSU) is a centralized matching and workflow engine that supports new supply chain services to banks’ corporate customers. An initiative driven by many of the world’s foremost banking institutions, TSU is designed to help banks retain their leading edge in trade finance, as the industry increasingly moves from letters of credit (LCs) to open account transactions. By further automating the supply chain and increasing transparency, the TSU initiative increases inter-bank cooperation for the benefit of enterprises and banks alike.
Surecomp’s allTRA Java J2EE back-office trade finance solution is SWIFT TSU-compliant. As a result, Surecomp customers can more easily standardize and monitor their trade finance transactions – driving down errors, risks and costs. At the same time, banks can become more proactive in the early stages of the transaction cycle, enabling cross-selling opportunities throughout the trade finance process.
Surecomp’s compliance with SWIFT TSU is further testimony to its ongoing collaboration with SWIFT.