Toronto, Canada, September 27, 2017 – GlobalTrade Corporation (GTC) has announced today that Johnson Controls (JCI) http://www.johnsoncontrols.com/ has selected its @GlobalTrade Platform for managing standby letters of credit and bank guarantees and digitizing communication with its financial institutions. The company has also selected to use SWIFT MT 798 standards for trade.
“The platform provides the ability to centralize all of our trade finance flows and handle the complete lifecycle of our letter of credits and guarantees while complying with the SWIFT For Trade standards,” said Marc Vandiepenbeeck, Vice President and Assistant Treasurer at Johnson Controls.
“@GlobalTrade will enable JCI to digitize the handling of its trade finance transactions and streamline the communication with its financial institutions, said Jacob Katsman, CEO at GlobalTrade Corporation.”
Huny Garg, SWIFT’s Head of Trade and Supply Chain, said: “We are delighted that JCI is choosing SWIFT MT798 to digitize their trade processes. The adoption for MT798 has been growing steadily and JCI’s decision demonstrates the value our multi-banking standards bring to trade processes. It is a win-win proposition for corporates and banks alike.”
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