Trade Technologies Partners with Standard Chartered Bank to Automate Global Trade Document Presentations
Automated System Accelerates Payments, Saves Money and Eliminates Discrepancies
Austin, TX (October 29, 2012) – Trade Technologies, the global leader in international trade document solutions, announced today that Standard Chartered Bank New York (SWIFT BIC: SCBLUS33) will use Trade Technologies’ patented Global Trade Management software to streamline the presentation of trade documents for its export clients.
By leveraging Trade Technologies’ web-based trade management platform and its own trade finance expertise, Standard Chartered Bank will offer its exporter clients a more efficient and effective system for accelerating international payments and provide them with expedited access to trade receivables. Trade Technologies’ Global Trade Management platform automates the creation and delivery of original UCP 600 compliant letter of credit documents, eliminates discrepancies, lowers transaction costs and enhances reporting for exporters.
“We are delighted to partner with Standard Chartered Bank to bring their clients an enhanced and expedited international documentary trade processing system,” said Kirk Lundburg, CEO of Trade Technologies. “Last year we processed nearly $9 billion of transactions for customers and they all saw significant improvements using our solutions.”
“Standard Chartered Bank is committing to expanding trade finance solutions for our clients and we are confident that by using Trade Technologies we will help our clients reduce their Days Sales Outstanding (DSO),” said Daniel Scanlan, Standard Chartered Regional Head - Transaction Banking Americas.
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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