Toronto, Canada, April 30, 2019 – GlobalTrade Corporation (GTC) has announced today that EPIROC (https://www.epiroc.com) has expanded the use of its @GlobalTrade™ Multi-bank Trade Finance Platform to the U.S., China, and India.
Epiroc first adopted @GlobalTrade ™ in 2017 with the main objective to replace an old system that was to be phased out. The main needs were firstly to administer Letter of Credits, and secondly to administer Guarantees both in an effective and transparent way. Important for us is to standardize how we work with trade finance globally. GTC’s system enables us to do this, whilst at the same time we can support each other irrespective of where in the world our people are located. ‘Now when our colleagues in the U.S., China, and India have started to use the system it makes our vision come true’, said Jonas Kälfors, Head of Trade & Structured Finance.
“We are very happy that Epiroc can see a meaningful impact on its operations using our technology”, said Olga Schwarzkopf, GTC’s VP of Business Development. “This gives us energy to work even harder and innovate in the area of digitization of trade finance.”
Epiroc is a leading productivity partner for the mining and infrastructure industries. With cutting-edge technology, the company develops and produces innovative equipment, consumables and service for use in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications.
Customers all over the world rely on Epiroc’s expertise and innovations to help grow their businesses. Epiroc provides equipment for drilling and rock excavation, and a complete range of related consumables and service to customers in more than 150 countries. Epiroc had revenue in 2018 of SEK 38 billion (USD 4.4 billion) and has more than 14,000 employees. Principal product development and manufacturing units are located in Sweden, the United States, Canada, Germany, China and India.
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. Our 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