Hamburg, Germany, May 15, 2018 – Surecomp®, the leading global provider of trade finance solutions for banks and corporates, announced today that its entire suite of trade finance and supply chain finance solutions are prepared to fully support SWIFT’s rigorous new standards. In both 2018 and 2019, SWIFT is making revolutionary changes to the standards for Letters of Credit and Guarantee Messaging, the likes of which the trade finance industry has not seen for many years.
During this year, 2018, letters of credit messages under SWIFT will be undergoing changes as well; in particular the MT707 Message (Letter of Credit Amendment) and several new messages. For 2019, in addition to new Guarantee and Standby LC-related messages, a complete overhaul of the MT760 message relating to the Issuance of Guarantees and Standby LCs is expected and, additionally, a similar complete overall of the MT767, which is related to the amending of guarantees and standby LC’s.
The release of material regarding the 2019 changes will remain ongoing throughout the end of 2018 and Surecomp is in close communication with SWIFT to ensure that clients are kept abreast of information as it becomes available. “We, at Surecomp, however, are not waiting and are already working on solutions which will be adopted throughout the rest of the year as further details are released by SWIFT.”, said Gadi Komet, Surecomp’s Executive Vice President of Global Delivery. “Our valued clients can rest assured that, as your trusted partner, all Surecomp’s products will fully support the new standards in the way you have come to expect from us in 2018, 19 and beyond.” Surecomp has four products that proudly carry the SWIFT Certified label; DOKA-NG®, IMEX®, SCF-PRO® and COR-TF®. The remainder of Surecomp’s products are all SWIFT compliant.
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,500 banking organizations, securities institutions and corporate customers in 215 countries and territories. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. For additional information, visit www.swift.com.
About Surecomp
Surecomp® is the leading global provider of trade finance solutions for banks and multinational corporates. A respected market pioneer for 30-plus years, Surecomp maintains a proven track record delivering innovative solutions worldwide. With a global network of eight regional development and support centers [in the US, Argentina, Chile, the UK, Germany, Israel, Singapore and China], Surecomp serves a prestigious customer base in over 80 countries across six continents. Surecomp’s integrated portfolio of trade finance, supply chain finance and treasury solutions streamlines the transaction lifecycle to increase efficiencies and maximize profits.