Umpqua Bank Deploys New International Trade Finance Systems
Umpqua Bank has teamed with China Systems US & Canada (China Systems), a supplier of trade finance systems, to offer its international banking customers the latest in automated trade finance technologies. Umpqua’s international banking division recently completed the installation of an integrated system that automates and audits the complete cycle of trade finance transactions. Additionally, the bank has released its Umpqua Online Trade Services, which provide expanded trade finance functionality for Umpqua Bank customers, including 24-hour online access to letters of credit and outgoing documentary collection services.
The addition of these technologies enables Umpqua Bank to offer heightened flexibility, automation and integration options to businesses engaged in international trade.
“International trade is increasingly important for small to mid-size businesses, yet it also presents a number of obstacles in respect to securing and managing finances for these businesses,” said Anthony Oriti, senior vice president and managing director for Umpqua Bank’s international banking division. “By partnering with China Systems, we are able to deploy the leading trade finance technology solution and ensure that Umpqua customers have access to high-quality, secure international banking services when and where they need them.”