Trade Technologies Partners with Standard Chartered Bank to Automate Global Trade Document Presentations
Automated System Accelerates Payments, Saves Money and Eliminates Discrepancies
Austin, TX (PRWEB) October 29, 2012
Trade Technologies, the global leader in international trade document solutions, announced today that Standard Chartered Bank New York (SWIFT BIC: SCBLUS33) will use Trade Technologies' patented Global Trade Management software to streamline the presentation of trade documents for its export clients.
By leveraging Trade Technologies' web-based trade management platform and its own trade finance expertise, Standard Chartered Bank will offer its exporter clients a more efficient and effective system for accelerating international payments and provide them with expedited access to trade receivables. Trade Technologies' Global Trade Management platform automates the creation and delivery of original UCP 600 compliant letter of credit documents, eliminates discrepancies, lowers transaction costs and enhances reporting for exporters.
“We are delighted to partner with Standard Chartered Bank to bring their clients an enhanced and expedited international documentary trade processing system,” said Kirk Lundburg, CEO of Trade Technologies. “Last year we processed nearly $9 billion of transactions for customers and they all saw significant improvements using our solutions.”
“Standard Chartered Bank is committing to expanding trade finance solutions for our clients and we are confident that by using Trade Technologies we will help our clients reduce their Days Sales Outstanding (DSO),” said Daniel Scanlan, Standard Chartered Regional Head - Transaction Banking Americas.
About Trade Technologies
Founded in 1999, Trade Technologies (http://www.tradetechnologies.com) is the largest global provider of outsourced trade document services and software. From its 12 offices in Asia, Europe and North America, Trade Technologies provides leading exporters, freight forwarders and international trade banks with trade document solutions, training and consulting.
The company's web-based Global Trade Management platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions. More than 1,000 exporters, global trade banks and freight forwarders depend on Trade Technologies' services to process over $8 billion in international trade transactions each year. Trade Technologies was recently voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance Magazine. In 2011, the company was awarded a patent on the Trade Technologies software platform and process, and won the Presidential “E” Award for Exports by the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth.
About Standard Chartered
Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns more than 90 per cent of its profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.
With 1,700 offices in 70 markets, the Group offers exciting and challenging international career opportunities for nearly 87,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered's heritage and values are expressed in its brand promise, ‘Here for good.'
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