Toronto Canada, May 31, 2005 GlobalTrade Corporation (GTC) has won Euromoney’s Trade Finance Magazine Best Independent Trade Platform/System Provider AWARD 2005 for its @GlobalTrade Platform.
The Trade Finance Awards for Excellence recognize the best of breed, innovation, and success in the trade finance industry.
@GlobalTrade Platform empowers credit/treasury departments of corporations by providing multi-bank solutions for the handling of documentary credits, standbys, guarantees, and documentary collections. For corporates, @GlobalTrade technology has proven to deliver significant savings through the reduction of payments made under reserve and days sales outstanding (DSO), as well as through improved efficiency in credit management and document handling. Banks using @GlobalTrade demonstrate to clients their commitment to improve their customers’ business and are able to offer additional value-added solutions. Since the commercial launch of @GlobalTrade in October 2004, banks and their corporate customers have been using the platform for management and electronic delivery of LCs and commercial documents.
‘This award recognizes the achievements not only of GlobalTrade Corporation but also of all our partners and customers who are contributing to the success of the platform. With their support and guidance we have been able to develop practical applications and services that meet today’s industry needs and that are ready for the paperless tomorrow,’ said Nick Pachnev, Chief Technology Officer of GlobalTrade Corporation. ‘The Platform offers a unique combination of modular architecture, rich functionality, and robust design supporting standard and custom-built solutions. Those solutions provide immediate measurable benefits to all types of customers ranging from trading houses to multinational manufacturing conglomerates or global banks.’
GTC’s Chief Executive Officer Jacob Katsman said: ‘We are delighted that @GlobalTrade has been independently voted as the Best Trade Platform by the industry. Our goal was to bring to market an independent multi-bank platform that would bring all parties in the trade transaction onto the same electronic page. With some of the largest corporate and bank names now using the platform commercially, the vision is becoming reality.’
About GlobalTrade Corporation
GlobalTrade Corporation is a software development house and applications service provider. The company designs, develops and manages innovative, collaborative products and services for global trade services. GlobalTrade 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 GlobalTrade Corporation.
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