Toronto, Canada, November 28, 2016 – GlobalTrade Corporation (GTC) has announced today that Atlas Copco, has selected its @GlobalTrade Multi-bank Trade Finance Platform for handling issuance and receipt of bank guarantees, export documentary credits and export documentary collections. Atlas Copco has also selected SWIFT MT 798 messages as its preferred method for exchanging trade finance information with its banks.
‘Atlas Copco’s goal to have a digitized, more standardized and cost effective handling of trade finance transactions has led us to a Multi-bank trade finance solution. GTC was selected because of their responsiveness to our needs and requirements together with the system’s flexibility and ease of use,’ said Marie Sandström, Trade Finance Manager at Atlas Copco Financial Solutions AB.
‘GTC is honored that following a rigorous and comprehensive evaluation process Atlas Copco has selected @GlobalTrade cloud solution to streamline its trade finance activities and digitize communications with its multiple financial institutions,” said Nick Pachnev, Chief Technology Officer of GTC. Extensive functionality combined with flexible design and multiple connectivity options enabled our company to meet requirements of Atlas Copco.’
SWIFT, Head of Corporates and Supply Chain, Marc Delbaere said, ‘There is really a lot of momentum right now around the adoption of the MT 798 standards and this is another perfect example of the business value of standardizing the digital flows between the banks and the corporates.’
About Atlas Copco
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2015, Atlas Copco had revenues of BSEK 102 (BEUR 11) and more than 43 000 employees. Learn more at www.atlascopcogroup.com.
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