Toronto, Canada, February 10, 2016 – GlobalTrade Corporation (GTC) has announced today that Kongsberg Gruppen ASA, international, knowledge-based technology corporation that develops advanced systems and technologies for the maritime, offshore, defence and aerospace industries, has selected its @GlobalTrade Multi-bank Trade Finance Platform for managing incoming and outgoing bank guarantees and export documentary credits. Kongsberg has also selected SWIFT MT 798 messages as its preferred standard for communication with its financial institutions.
‘In order to achieve greater efficiency, automation and standardization Kongsberg has decided to use SWIFT’s MT 798 standards for LC and guarantee processing. GTC was selected due to their understanding of our needs, the user-friendliness and flexibility of their solution, and the high level of system security’, said Per Olaf Stampe, Kongsberg’s Group Vice President Finance and Treasurer.
‘Kongsberg has spent 2015 in a structured evaluation process visiting existing clients and looking at the functionality, security and integration compatibilities of @GlobalTrade technology. Offering the technology as a cloud service with built-in SWIFT connectivity simplifies and expedites implementation process, At the same time a highly configurable application framework ensures compliance of the cloud service with all of Kongsberg’s technical and business requirements. We are glad that in the end Kongsberg has selected GTC as its technology partner,’ said GTC’s CTO, Nick Pachnev.
Stephen Gilderdale, SWIFT’s Head of UK Key Clients, Ireland and Nordics, said: ‘We are delighted to welcome Kongsberg on to SWIFT. This decision demonstrates the growing adoption by corporates in the Nordics of SWIFT’s multi-banking standards and messaging services for trade finance flows. It illustrates the win-win proposition that SWIFT offers to corporates and banks alike.’
Kongsberg is an international, knowledge-based technology corporation that develops advanced systems and technologies for the maritime, offshore, defence and aerospace industries. Kongsberg has more than 7500 employees in more than 25 countries worldwide. Its headquarters is located in Norway.
The Kongsberg Group consists of the four business areas: Kongsberg Maritime, Kongsberg Oil & Gas Technologies, Kongsberg Defence Systems and Kongsberg Protech Systems. Kongsberg was founded on 200 years of experience and on the core values of determination, innovation, reliability and cooperation. Its vision statement is: World Class – Through people, technology and dedication.
For more information, visit www.kongsberg.com
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, visit www.globaltradecorp.com