DBS Extends Global Trade Finance Reach with Surecomp's IMEX
DBS Bank, one of the largest financial services groups in Asia, has successfully implemented IMEX, Surecomp’s trade finance solution, at its UK and Taiwan operations.
The implementation of IMEX at DBS UK and DBS Taiwan underscores the growing relationship between the bank and Surecomp, according to Ng Peng Khim, managing director of DBS’s technology & operations (Institutional Banking & Emerging Markets).
“We have achieved many firsts with the deployment of IMEX in the UK and Taiwan,” Ng said. “While it was DBS’s first trade finance venture outside of Asia, it certainly will not be our last. In 2010, we plan to roll out IMEX at our US and Gulf region operations, as well as in other Asian cities where we operate, thereby aligning our trade solutions across the region. This is also the first time we’ve been able to standardise and streamline our trade finance processes, including providing automated intra-day and end-of-day cash flow management reporting for our businesses.”