DZ BANK Trusts Surecomp in Its Digital Trade Finance Transformation Journey
- Trade Finance
- 24.02.2021 07:43 pm
Surecomp®, the leading provider of global trade finance solutions for banks and corporates, today announced that DZ BANK, as part of its journey towards digitized trade finance operations, chose DOKA-NG™ to be its next generation digital trade finance platform.
As the second largest bank in Germany, DZ BANK which is headquartered in Frankfurt, acts as the central bank for almost 850 co
-operative banks across the country. The trade finance department operates on behalf of both direct customers and member banks, acting as a trade finance hub to process thousands of transactions. The DZ BANK team also manages international trade finance processing requests from the bank’s Hong Kong branch. In view of thousands of corporate clients of varying size and growing transaction volumes, DZ BANK recognized the need to transition its operations to the next stage of digitization. It decided to implement DOKA-NG™, which is an API-enabled digital trade finance platform fully equipped to support pending regulatory changes including SWIFT SR2021.
“Starting the transition to DOKA-NG is a natural progression in our digitization journey,” explains Thomas Arendt, Head of Documentary Trade at DZ BANK. “The bank in general is migrating more and more towards digital solutions, and I’m delighted that, through our established partnership with Surecomp, trade finance has been able to drive enhanced customer service through the automation of its back-end processing.”
“We are proud to serve DZ BANK and its vast portfolio of cooperative banks and are fully committed to the digital journey the bank is going through,” says Yaron Hupert, Surecomp’s SVP Account Management. “As a trusted advisor, we have built a true technology partnership to help secure their digital trade finance future.”