DZ Bank Chose Surecomp For Digitizing Trade Finance

On 24 February 2021, it has been announced by Surecomp, a leading supplier of global trade finance solutions for banks and corporates that DZ Bank, as a component of its excursion towards digitized trade finance activities has selected DOKA-NG to be its cutting through digital trade finance platform.

DZ Bank is the second-largest bank in Germany with headquarters in Frankfurt that provides central bank facilities for almost 850 co-operative banks across the nation. The trade finance department provides services on behalf of both direct customers and member banks, considered as the trade finance hub to function a plethora of transactions. The team at DZ bank also handles international trade finance processing requests from the Hong Kong branch of the bank. By keeping the requirements of multiple corporate clients of varying sizes in mind as well as increasing transaction quantities, DZ bank forms an opinion to transition its activities to the next level of digitization. The task of implementing DOKA-NG is the initial step by the bank. It is an API-enabled digital

platform fully prepared to help pending administrative changes including SWIFT SR2021. Earlier, Wärtsilä also participated in a paperless trade finance platform to digitalize the process of Export Letter of Credit.

Thomas Arendt, Head of Documentary Trade at DZ Bank explained that “Initiating the adaptation of DOKA-NG is a characteristic movement in our journey of digitization.” He further explained, “The bank, in general, is shifting towards more and more digital solutions, and I am pleased that, with our set-up organization with Surecomp, trade finance has been capable of attracting improved customer service with the help of the automation of its back-end activities.”

According to Yaron Hupert, Surecomp’s SVP Account Management, “We are glad to provide our services to DZ bank and its wide portfolio of cooperative banks and are fully focused on the digital journey that bank is experiencing.” Further added, “As a reliable advisor, we have established a true technology partnership to aid securing their digital trade finance future.”





Other news

Most Recent Blogs View All Blogs

12 May

Top Ways Fintech Industry Is Getting Transformed Through Blockchain

If you are a businessman who is indulged in any kind of trade ie. import-export activity, you might ...

10 May

Fintechs Are Proving To Be A Boon For Small Exporters

Since the global pandemic of Covid-19 hit the world economy, the global traders have gone into deep ...

25 Apr

Letter of Credit Issuance Process - An Important Trade Finance Instrument

Looking for a letter of credit? This guide covers what an LC is, how it works & its process. Rea...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.