Surecomp today announced that international bank and wealth management group Investec has selected its cloud-based DOKA-NG and RIVO for fully digital end-to-end trade finance processing automation. DOKA-NGTM has gone live in less than three months and will now enable Investec to execute seamless and sustainable trade finance requests from its customers across the globe.
The bank – with total assets of £60bn across principal markets South Africa and the UK, as well as certain other countries – chose Surecomp’s TFaaS Trade Finance as-a-Service offering to support its newly formed trade finance operation. As a key enabler to breaking down fee-based barriers under the Africa Continent Free Trade Agreement (AfCFTA), the demand for trade finance in Africa is expected to rise significantly, prompting Investec to put in place a robust solution from the start.
“We decided to set the standard for digital client experience by ensuring we are well equipped with both back-end internal trade finance processing and interactive client communication,” explains George Wilson, Investec’s Head of Trade Finance. “With some of the team having worked previously with Surecomp and seeing the innovative development of the RIVO platform, particularly with regards to ESG scoring and tracking, we are confident this technology partnership will be instrumental in ensuring the success of our trade finance business.”
“We’re delighted to welcome Investec to our expanding African client-base,” said Robin Findlay, Surecomp’s VP of Global Sales and Marketing. “As one of the top five South African banks, and the country’s best performing lender according to operational efficiency, asset quality and liquidity, it is testament to Investec’s progressive approach to technology and the relationship established between our two companies, that the bank has chosen to partner with us.”