Surecomp Enables Absa Group’s Roll Out of Pan-African Trade Finance Digitisation Across 10 Countries

Published 

Toronto – Surecomp today announced that South African bank Absa Group has gone live with the latest version of its back-office trade finance solution IMEX in 10 countries across the continent as part of their ongoing digitisation initiatives.

A Surecomp customer since 1998, Johannesburg-based Absa Group has seen an unprecedented rise in demand for its trade finance services in the past two years. One of the main drivers for deploying Surecomp initially was to improve operational efficiency while mitigating risk and demonstrating agility in its ability to scale and meet increasing customer demand. Taking a phased approach throughout 2020 to bringing its multiple subsidiaries across Africa onto one integrated platform, the bank has now gone live on IMEX 8 in South Africa, Zambia, Botswana, Uganda, Kenya, Tanzania, Ghana, Mauritius, Seychelles and Mozambique.

This latest digital version offers a web-based interface for remote accessibility and open API connectivity, with full integration to the Surecomp Marketplace for access to other fintech partners within the trade finance ecosystem. As a result, Absa Group is now fully equipped to continue supporting its rapid growth projections, ensuring all customers receive a consistently superior service, while setting a new standard for pan-African trade finance digital transformation.

“This project exemplifies a strength of efficiency and governess that has ultimately resulted in a very successful outcome,” states Surecomp SVP of Account Management Yaron Hupert. “The Absa team was eager to learn and quickly became self-sufficient, which allowed us to move quickly and deploy ten entities in a uniquely short period of time.”

“Both teams have done a fantastic job under very difficult circumstances,” explains Michelle Knowles, Head of Trade Finance Product and Trade Working Capital Governance and Innovation at Absa Group. “I would like to thank Surecomp for its support in helping us meet our tight deadlines and for all their hard work, it’s been a great achievement and wonderful teamwork.”

Most recent episodes

What to Do with Corporate Cash in Challenging Times

Corporate treasurers have myriad challenges to contend with in the short-term investment space. Here, Richard Hallett (Aviva Investors), Ed Lopez (Calastone) and Patrick Kunz (Pecunia Treasury & Finance) outline how to successfully navigate these roadblocks, debunk incoming regulations, and assess...

39:42

Trading Up: Supply Chain Trends Impacting Treasury

If you need a clear, concise and definitive guide to SCF in 2022 and 2023 then look no further! Due to their remit as financial risk assessors, treasurers need to understand the pitfalls associated with supply chain disruption. In this podcast, hosted by TMI’s Eleanor Hill, our expert guests Rowan...

34:28

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14