As the second largest bank in Germany, DZ BANK which is headquartered in Frankfurt, acts as the central bank for almost 850 co-operative banks across the country. The trade finance department operates on behalf of both direct customers and member banks, acting as a trade finance hub to process thousands of transactions.
The DZ BANK team also manages international trade finance processing requests from the bank’s Hong Kong branch. In view of thousands of corporate clients of varying size and growing transaction volumes, DZ BANK recognized the need to transition its operations to the next stage of digitization.
It decided to implement DOKA-NG™, which is an API-enabled digital trade finance platform fully equipped to support pending regulatory changes including SWIFT SR2021.
“Starting the transition to DOKA-NG is a natural progression in our digitization journey,” explains Thomas Arendt, Head of Documentary Trade at DZ BANK. “The bank in general is migrating more and more towards digital solutions, and I’m delighted that, through our established partnership with Surecomp, trade finance has been able to drive enhanced customer service through the automation of its back-end processing.”
“We are proud to serve DZ BANK and its vast portfolio of cooperative banks and are fully committed to the digital journey the bank is going through,” says Yaron Hupert, Surecomp’s SVP Account Management. “As a trusted advisor, we have built a true technology partnership to help secure their digital trade finance future.”
Source: Fine Extra
*****
About Skyhigh.Vip
Skyhigh.Vip is a global institutional investor with vast interest in Arts / Construction / Education / Business Services / E-Sports and various other growth industries.
Several of its popular portfolio includes GO Chambers which is the world’s largest business chamber listing providers with over 30,000 active chambers as its members.
Flexgigzz is the Asia leading marketplace for freelancer service and together with SOHO Learning Hub which is an online platform for short courses and both of them aims to be the number one provider in Asia. For growth industries such as E-Sport Authority which is dedicated to providing independent media coverage to all E-Sport News related from around the world and for the art world, there is Atelier Auction which is an investable art auctioneer and being in the art scene for decades.
