More NewsGlobalTrade Achieves SWIFTReady for Corporates Trade Finance Certification

GlobalTrade Achieves SWIFTReady for Corporates Trade Finance Certification

Canadian company GlobalTrade Corporation (GTC) is the first technology company to earn the ‘SWIFTReady for Corporates’ trade finance label. This label was introduced in 2010 and complements the SWIFTReady trade finance banking application label.

This new label for corporates covers business applications that are capable of processing and exchanging trade flows, such as applications for the issuance of import documentary credits, standby letters of credit (LCs), and bank guarantees, and advice of export documentary credits. SWIFT experts have awarded this label after successful technical and functional validations, as well as a customer reference check.

“This new SWIFTReady label is a strong sign to the industry that SWIFT standards and connectivity in the corporate to bank space are becoming more and more widely adopted to increase automation and reduce processing costs, for more and more business activities,” said Patrik Neutjens, head of partner management at SWIFT. “This SWIFTReady certification for corporates – trade finance further completes the availability of SWIFT-automated solutions in this very important space. We are very pleased that the co-operation between GTC and SWIFT has resulted in the first label in this market segment being awarded to GTC.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi