Toronto, Canada, November 17, 2014 – GlobalTrade Corporation (GTC) is pleased to announce that its @GlobalTrade Multi-bank Trade Finance products have been awarded the “SWIFT Certified Application – Trade and Supply Chain Finance” certification for 2014. The products cover traditional trade finance instruments such as documentary credits, standby letters of credit, bank guarantees, documentary collections and new payment instruments such as the Bank Payment Obligation (BPO).
The SWIFT Certified program provides accreditation to companies that provide various SWIFT-related services and solutions to end customers. SWIFT checks compliance with relevant quality criteria and standards, and awards SWIFT Certified labels for qualifying applications and specialists. SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence.
Andre Casterman, SWIFT’s Head of Corporate and Trade markets and Chair of the BPO Project at the International Chamber of Commerce (ICC) warmly welcomes GTC’s achievement: “GlobalTrade Corporation’s certification demonstrates their willingness to remain a leading trade finance solution provider for the corporate market. By integrating the BPO, GTC provides multi-banked corporates with a trade finance solution that includes the latest ICC and SWIFT standards such as the new Bank Payment Obligation settlement method”.
“SWIFT’s certification for @GlobalTrade products illustrates our continuing commitment to ongoing product innovation and focus on the best industry practices. One of the key benefits of @GlobalTrade realized by our clients is ability to use SWIFT as a single channel for connecting to multiple financial institutions. SWIFT’s certifications show that GTC continues to lead the market in the development and implementation of multi-bank trade solutions,” said Nick Pachnev, GlobalTrade Corporation Chief Technology Officer.
About GTC
GlobalTrade Corporation (GTC) is a software developer and application service provider whose product solutions improve the world of trade finance and trade services. The @GlobalTrade systems help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. Their customers include both business enterprises that need consolidated access to multiple banks as well as financial institutions that require supply chain finance solutions to meet their clients’ needs. @GlobalTrade™ is a registered trademark of GlobalTrade Corporation. For more information please visit www.globaltradecorp.com
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