Toronto, Canada, October 3, 2016 – GlobalTrade Corporation (GTC) has announced today that Valmet Corporation has selected its technology for managing guarantees and export documentary credits. Valmet has also selected SWIFT MT 798 messages as its preferred method for exchanging trade finance information with its banks.
“One of our Must-Wins at Valmet is Operational Excellence. The purpose of the project now be started with @GlobalTrade solution with its SWIFT network connectivity is to renew and improve Valmet´s operational efficiency through process harmonization and standardization, modern and user friendly @GlobalTrade platform, and data and reporting quality improvement for LC and guarantee processing,” comments Joni Ihantola, Corporate Treasurer, Valmet Corporation.
‘We are excited that Valmet chose our technology to manage its trade finance flows, said GTC’s CTO Nick Pachnev. By combining @GlobalTrade solution with its SWIFT network connectivity Valmet will achieve quick digitization of guarantees and export documentary credit transactions throughout its global network of subsidiaries and banking partners.’
‘I am always excited to see further adoption of our digitization channels. The MT 798 standard continues to gather industry support and our partnership with GTC is providing a very nice end-to-end story,’ said Marc Delbaere, SWIFT’s Head of Corporates and Supply Chain.
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. Valmet’s vision is to become the global champion in serving its customers.
Valmet’s strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. The advanced services and automation solutions improve the reliability and performance of customers’ processes and enhance the effective utilization of raw materials and energy.
Valmet’s net sales in 2015 were approximately EUR 2.9 billion. Valmet’s 12,000 professionals around the world work close to customers and are committed to moving the customers’ performance forward – every day. Valmet’s head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.
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