London – Surecomp®, the leading global provider of trade finance solutions for banks and corporations, announced today that Nordea, the largest financial services group in Northern Europe, has gone live in Frankfurt and London with the stand-alone version of allNETT®, Surecomp’s Web-based trade finance front-end solution. Nordea has as of June 30, 2014 a market capitalization of approximately EUR 41.7bn, total assets of EUR 636.7bn and a common equity tier 1 capital ratio of 15.2%.
The rapid implementation of allNETT is an integral element of Nordea’s drive to enhance its position as the dominant trade finance bank in Northern Europe and to strengthen its international trade finance operations. Additional Nordea locations are scheduled to go into production with the stand-alone version of allNETT in the coming months.
In Q4/2013, Nordea previously licensed allNETT V5.0 along with Surecomp’s IMEX V7.0 trade finance back-office platform and the SCF-PRO V1.2 supply chain finance solution.
“We appreciate the trust bestowed upon us by Nordea, and are fully confident that the Bank’s expectations will be met and surpassed by Surecomp“ remarked Joel Koschitzky, Surecomp Chairman. “We have witnessed firsthand the difficulties many banks are having as they continue to serve traditional trade markets while maintaining or improving return on equity performance. allNETT, complemented by Surecomp’s suite of trade finance and supply chain finance products, helps banks and their corporate clients to drive efficiency and boost profitability.”
Nordea has leading positions within corporate merchant banking as well as retail and private banking. The Bank maintains operations across eight home Nordic and Baltic Sea markets including Denmark, Finland, Norway, Sweden, Estonia, Latvia, Lithuania and Russia. Nordea’s international corporate banking division operates branches in Germany, the UK, Singapore, China and the US.
“Surecomp is a seasoned provider of mature yet innovative trade finance solutions for banks and corporations alike, and we look forward to continued collaboration with Surecomp in the years ahead. Our vision is to make global trade happen by providing the very best services across all markets. The continuous rollout of allNETT – for the benefit of our corporate clients requiring trade finance services – is a prime example of this vision,” said Lena Hedengran, Vice President, Head of Trade Finance Baltics & International Units at Nordea.
allNETT is a state-of-the-art Web-based trade finance front-end system. Designed for a bank’s corporate customers and branch offices, allNETT offers complete customer/bank trade cycle support in real time. allNETT enables a bank’s customers to initiate and manage a full range of trade finance transactions as well as extract a wide array of online inquiries and reports. allNETT fully interfaces with Surecomp’s IMEX, allTRA, IBSnet and DOKA 5 back-office trade finance solutions, as well as various third-party systems, and can operate as a stand-alone system.
Surecomp is the leading global provider of trade finance solutions for banks and corporations. A market pioneer for over 25 years, Surecomp maintains a proven track record delivering innovative solutions worldwide. With a global network of regional offices and six state-of-the-art development centers, Surecomp successfully supports hundreds of installations in over 80 countries. Surecomp’s integrated portfolio of trade finance and supply chain finance solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visit www.surecomp.com.
Surecomp’s full-range of award-winning solutions will be showcased later this year at Sibos 2014, which is to be held in Boston at the Boston Convention & Exhibition Center from September 29 to October 2. Delegates to Sibos 2014 are invited to contact Surecomp and arrange a meeting.