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Surecomp revealed that Commerzbank AG has opted to implement Surecomp’s DOKA-NG™ solution for back-office trade finance processing across various entities. This choice came after an extensive evaluation period, during which the bank recognised Surecomp for its notable market presence, widespread international customer base, and dedication to fostering a collaborative and open API-driven digital trade finance evolution.
Commerzbank AG, based in Frankfurt, regards trade finance as a pivotal service, handling a large number of transactions annually.
As a crucial part of the bank’s growth strategy, the integration of DOKA-NG™, to be hosted within the bank’s private cloud infrastructure, aims to enhance and unify the back-office management of letters of credit, guarantees, and other trade finance instruments. This enhancement is expected to streamline the bank’s internal processes, bolster control and oversight, and expedite customer approvals.
Jörg Motel, Global Head of Product Management Trade Finance at Commerzbank said, “A new, modern technological infrastructure is the foundation to securing our leading market position in trade finance and enables us to tailor our offerings even more to our customer’s needs. It fits into the long-term strategy of Commerzbank and shows our clear commitment to facilitating global trade finance for our German corporate clients.”
“As a reliable partner for many years with a great depth of knowledge of the German market, we have chosen Surecomp this important journey.”
Yaron Hupert, Surecomp’s SVP of Account Management said, “We are extremely pleased that Commerzbank is relying on Surecomp as a long-term partner to build its next generation trade finance platform.”
“Our teams are fully committed and ready to deliver the most advanced trade finance platform in the industry. Commerzbank’s decision to choose Surecomp reinforces our leading position in the market and our specialist trade finance expertise; I am confident we will bring great value to the bank and its customers for many years to come.”