Toronto, Canada, April 29, 2011 – GlobalTrade Corporation (GTC) has announced today that it is launching a Software as a Service (SaaS) offering multibankportal.com. The service would be offered through data centers in North America and Europe, and offer three of GTC’s main @GlobalTrade platform products: Standby LC/Guarantee Issuance, Export Documentary Credit, and Import Documentary Credit.
All systems are certified with the SWIFTReady for Corporates 2011 Trade Finance label. This label was first introduced in 2010 and complements the SWIFTReady Trade Finance banking application label. The label for corporates covers business applications that are capable of processing and exchanging trade flows such as applications for the issuance of import documentary credits, standby letters of credit, bank guarantees, and advice of export documentary credits. This label has been awarded after successful technical and functional validations, as well as a customer reference check by SWIFT experts.
‘Our SaaS and in-house installation offerings are enabled out of the box with SWIFT SCORE connectivity,’ said Nick Pachnev, GTC’s CTO. ‘Even if the corporate has the most basic connection to the SWIFT network through Alliance Lite, it would be able to connect to over 9000 financial institutions for trade finance transactions.’
‘We have responded to market demand for proven, ready to use, multi-bank, trade systems that can be quickly implemented and competitively priced,’ said Jacob Katsman, GTC’s CEO. ‘Many large companies today prefer not to use internal IT resources to install software products in-house and use hosted solutions where the software vendor takes care of all technology issues and makes sure that the system is running smoothly.’
GTC will continue licensing its products, for in-house installation, directly to corporations and partner with banks that want to offer value added trade services that leverage the multi-bank technology that GTC provides.
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
Tel:+1 416 661 8520