Komgo Joins GTC To Facilitate Digitalisation Of Trade Finance

Recently, GlobalTrade Corporation (GTC) declared that it has been acquired by Komgo, a Swiss headquartered company, facilitating digital trade finance solutions. They both altogether will provide trade finance digitalization solutions to more than 120 worldwide clients and their 11,000 subsidiaries, combining them with their financial institutions and trade service providers on an international basis.

As per Souleïma Baddi, CEO of Komgo, “Cooperatively, Komgo and GTC will offer the largest coverage, and extensive volumes, for our corporate and bank clients. We are blending Komgo’s commodity aptitude with GTC’s industry skill, merging the market for digital trade services. Trade finance is slowly moving towards digital frameworks, and we are glad to be at the forefront of this change.”

GTC's Chairman of the Board, Jacob Katsman stated, “The industry was eager for this amalgamation. Mutually with Komgo, we can now connect corporates to all their financial institutions for obtaining trade finance regardless of what administrative system they use. Solutions facilitated by both companies are correlative and cover an extensive range of payment instruments used in international trade, starting from recognition of fake invoices to automation and management of Letters of credit, Bank guarantee, documentary collections, coordinated with a trade finance marketplace.”

About Komgo

Komgo is a Swiss-headquartered software development and technology services company, that resolves issues for the trade finance industry. Our exceptional digital solutions for trade are changing the internal work procedures, and the relationships between importers, exporters, banks, and all the stakeholders in between. Owned by the industry’s driving banks and corporates, our international customer base is upheld through offices in Seoul, Singapore, Geneva, London, New York, and Houston.

About GlobalTrade Corporation

Global Trade Corporation (GTC) is a multi-bank trade finance solution for corporations. The company keeps leading the industry by introducing ecosystems based on digitizing all stages of a trade finance transaction and connecting all transactional parties. The recent version of the company’s cloud solutions incorporates highlights for laying out and overseeing associations with financial institutions, pricing of trade finance instruments, their issuance, and advice, post-issuance events, overseeing electronic documentation, and risk participation. Perceiving that trade finance is firmly associated with different regions inside and outside a corporate association, GTC upholds various points of interfaces and formats for sharing data with another internal corporate system, such as ERP, financial reporting, cash management, and payments, user management, as well as external platforms for connecting with banks and logistics providers.

Recommended Read: HSBC Collaborates With HKTVmall To Get Digital Trade Finance To Merchants

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