Trade Technologies Automates Global Trade Document Presentations for Royal Bank of Scotland N.V. Clients
New Online Process Enables RBS’ Clients to Accelerate Document Presentation and Payment
Austin, TX (August 27, 2012) – Trade Technologies, the global leader in international trade document solutions and The Royal Bank of Scotland N.V. announced today that RBS will use Trade Technologies’ patented Global Trade Management software to receive online presentations of trade documents from export customers.
Trade Technologies automates the process of instantly delivering original UCP 600 compliant letter of credit documents online to major global trade banks. This far more efficient process, combined with Trade Technologies’ document preparation service, allows exporters to eliminate discrepancies, lower transaction costs, enhance reporting and accelerate international payments. Since its founding in 1999, Trade Technologies has completed more than 40,000 fully electronic presentations of original letter of credit documents to major trade banks and has processed over $40 billion of international trade payments.
“We are delighted that RBS will use our platform to automate the presentation of trade documentation for its impressive list of international trade customers,” said Kirk Lundburg, CEO of Trade Technologies. “We do this for over 1,000 customers on nearly $9 billion of transactions each year and they all see significant improvements using our solutions.”
“We constantly look for ways to help our clients reduce their Days Sales Outstanding (DSO), and the Trade Technologies Global Trade Management platform shortens the payment cycle,” said Deborah Seliski, Director, RBS.
Trade Technologies has offices in Atlanta, Austin, Boston, Chicago, Hong Kong, Houston, Istanbul, London,
Los Angeles, Mumbai, New York, San Francisco and Singapore.
About Trade Technologies
Founded in 1999, Trade Technologies is the largest global provider of outsourced trade document services and software. From its offices in Asia, Europe and North America, Trade Technologies provides leading exporters, freight forwarders and international trade banks with trade document solutions, training and consulting.
The Company’s web-based TradeSharp platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions. More than 1,500 exporters, global trade banks and freight forwarders depend on Trade Technologies’ services to process almost $10 billion in international trade transactions each year. Globally, Trade Technologies is presenting original letter of credit and other trade documents online to 71 examination offices of 24 banks in 13 countries.
Trade Technologies was named by Silicon Review as one of the “50 Smartest Companies of the Year 2016.” In 2015, Trade Technologies was awarded the Presidential “E” Star Award for Export Services by the U.S. Department of Commerce and was selected by CIO Review Magazine for its annual list of the 20 Most Promising Banking Technology Solution Providers. Trade Technologies was voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance Magazine. In 2011, Trade Technologies won the Presidential “E” Award for Exports through the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth. In 2010, the Company was awarded a patent on the Trade Technologies software platform and process.
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