Home
|
Press Release
Siemens
Goes Live With @GlobalTrade eLC Delivery Service
TORONTO Canada, October 7, 2004 – GlobalTrade Corporation has
announced that Siemens Financial Services GmbH (SFS) has gone live
with GlobalTrade Corporation’s (GTC) @GlobalTrade SWIFT/DTAEA
Converter & eLC Delivery Service. First commercial transactions from Bank of China,
Frankfurt Branch and from Misr Bank Europe have been successfully
delivered electronically in German DTAEA format to the headquarters
of SFS in Erlangen Germany.
SWIFT/DTAEA Converter & eLC
Delivery System enables banks to convert SWIFT category 7
Documentary Credit files into German DTAEA format.
The banks are able to enhance the messages by adding
information to them such as the advising bank’s cover letter,
confirmation terms, bank charges, and contact details before
transmitting the data to the beneficiary through the agreed
electronic format and data channel.
In turn a higher quality message is delivered from the bank
to the corporate customer in a faster way.
“We are very pleased with this
development said Gerhard Heubeck, Team Head of Documentary Business
of Siemens Financial Services GmbH.
Now we have a tool with which to connect about 25 per cent of
the banks that before could not send us electronic messages.”
Ulrich Caspary, Head of
International, Bank of China Frankfurt Branch said,"GlobalTrade
Corporation has offered us to test their system with five of our
major clients. We had
positive feedback from all clients and are glad to now be able to
offer this service.”
Bernd Hartmann, Head of
International, Misr Bank-Europe GmbH stated, "As a niche player
we have to carefully listen to our customers demands to stay
competitive and to provide an excellent service in order to reach
our goals. GlobalTrade helped us to make a step forward to not only
consolidate but increase our slice of the market."
About Siemens Financial Services GmbH
With about 1,500 employees and an international network of financing
companies coordinated by Siemens Financial Services GmbH, Munich,
Siemens Financial Services (SFS) offers a broad range of financial
solutions. This covers services from sales and investment financing
to treasury services, fund management and insurance brokerage. Key
customers of our companies are internationally active industrial and
services companies as well as public-sector operators. For further
information about SFS see
www.sfs.siemens.com.
About Bank of China, Frankfurt Branch
Established in 1989 Bank of China, Frankfurt Branch (BoC Frankfurt)
provides a wide range of services to both private and corporate
customers. As one of the largest BoC branches in Europe BoC
Frankfurt focuses on supporting its customers in their trade
business with China. During the last 15 years BoC Frankfurt has
become a well-known member of the Frankfurt banking community and a
reliable partner to most of the major German companies. In 2003 the
turnover of the bank's documentary business exceeded 2 Bill. EURO.
About Misr Bank-Europe GmbH
Misr Bank-Europe GmbH was
established in 1992 in Frankfurt (Germany) with the main target to
facilitate the trade between Egypt and Europe. Documentary Letters
of Credit are a widely used instrument to secure payment to the
exporters. Five of the major Egyptian banks are the shareholders of
Misr Bank-Europe GmbH with a registered capital of Euro 30 Million.
About GlobalTrade Corporation
GlobalTrade Corporation (GTC) designs, develops and manages
innovative, collaborative products and services for global trade
services. The Company services producers and traders that require
multi-bank information exchange and document management systems for
handling risk exposure and clean document creation, and financial
institutions that require secure electronic data exchange with their
corporate customers. @GlobalTrade™ is a registered trademark of
GTC.
Media
Contacts
David
Jack
GlobalTrade Corporation
+1 416 661 8520
|
Gerhard
Heubeck
Siemens
Financial Services GmbH
+
49 9131 721980
gerhard.heubeck@siemens.com |
|
