Surecomp has announced that it is partnering with Contour , one of the global digital trade finance networks, to drive the digital transformation of trade finance across financial institutions. Surecomp, with its 35 years of expertise digitising trade finance processes, is integrating with Contour’s decentralised network of banks and corporates to provide users with a fully integrated end-to-end trade service solution.

Through the collaboration with Surecomp’s trade finance platform RIVO, Contour’s member banks will be able to access digital Letter of Credit workflows directly on Surecomp’s back-office applications, providing straight-through automated processing, with the intention of reducing costs, improving operational efficiency, and optimising profitability. How it works Trade is the engine of the global economy, but trade financing is complex and traditionally reliant on paper. One pain point for many financial institutions has been the lack of a network to support collaborative workflows within the trade ecosystem, and a lack of interoperability between solutions.

The collaboration between Surecomp and Contour wants to address this issue, by streamlining and simplifying trade finance processing, bringing up opportunities for new business activities, improving trade productivity and ultimately, offering a sustainable future for global trade. About the companies Contour is a digital trade finance network that wants to build the standard for trade by bringing together the world's banks, corporates, and ecosystem partners, onto a common, digital, and trusted network. The company uses decentralised technology to offer integration with digital document systems and other digital networks, offering a flow of trusted data across the world’s trade routes and current fragmented ecosystems.

In October 2022 UK-based fintech Finastra integrated Contour’s Fusion Trade Innovation software to augment the processing of Letter of Credit transactions for banks. The two companies will accelerate the adoption of digital trade solutions by linking together the two key components of digital trade finance – an integrated core banking platform for internal processes, and an external decentralised network for bank and corporate customer communication. Surecomp is a provider of digital trade finance solutions for corporate and financial institutions.

Their portfolio of cloud and on-premises solutions streamlines the trade finance lifecycle for transaction processing, risk mitigation, compliance, decision support, and growth. Their customer footprint spans over eighty countries across the world. Recently, Indonesia-based bank BTPN partnered with Surecomp to launch its DOKA solution in order to streamline back-office trade finance processing automation.

The service replaces the previous trade finance application that was incorporated by the financial institution and is currently hosted in Jakarta, after being developed by Surecomp’s team. .