Toronto, Canada, June 28, 2006 – For the 2nd year in a row GlobalTrade Corporation (GTC) has won Euromoney’s Trade Finance Magazine Best Independent Trade Platform/System Provider AWARD for its @GlobalTrade Platform.
The Trade Finance Awards for Excellence recognizes the best of breed, innovation, and success in the trade finance industry.
@GlobalTrade™ Platform has been developed in Toronto Canada based on the requirements of some of the world’s largest corporates and banks. The Platform features a modular design enabling an efficient customization process to meet customer demands. It offers functionality for corporates to connect to multiple banks and trade services providers. The Platform can also be configured to build front end or back end applications for the banks.
Trade Finance Editor Jonathan Bell writes, “In the counting and evaluation of votes in this category, commercial banks were not taken into consideration as it is supposed to be for an ‘independent’ provider. Hard on the heels of GTC is Bolero, which has, over the past couple of years, significantly changed its product offering.”
GTC’s @GlobalTrade Platform is designed to empower the credit/treasury departments of corporations by providing a multi-bank solution for handling documentary credit, standby letter of credit/guarantee and documentary collection transactions. It also enables banks to offer innovative electronic trade service and trade finance solutions.
Today 23 banks, 38 subsidiaries and central treasury department of a multinational corporate are using the @GlobalTrade Platform to process guarantees. The corporate is benefiting from harmonization of documentation, improvement of transparency, avoidance of discrepancies, and better diversification of business between its banks. GTC has recently licensed its platform to a major German bank that has been mandated by a client as agent to coordinate a bilateral guarantee facility with twenty-two other banks.
“We are very pleased that our clients have voted for GTC as the Best Independent Trade Platform/System Provider for the second year in a row, “comments Jacob Katsman, CEO of GlobalTrade Corporation. “This demonstrates that our @GlobalTrade multi-bank platform for trade services is bringing real benefits to its users.”
Best Independent Trade Platform/System Provider
Winner: GlobalTrade Corporation
5. China Systems
(2005 winner: GlobalTrade Corporation)
About GlobalTrade Corporation
GlobalTrade Corporation develops innovative, collaborative software products for global trade finance. Under the trademark @GlobalTrade™ the company services corporates that require multi-party information exchange and document management systems enabling visibility, better risk control and cost savings and financial institutions that require innovative solutions to grow market share and protect existing customer base.
+1 416 661 8520