February 24, 2024

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Condition Lender of India in the US deploys Surecomp to support trade finance expansion

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Surecomp, the top service provider of world-wide trade finance methods for banking institutions and corporates, currently announced that the State Bank of India (California) (SBIC), has chosen and absent reside with its back again-workplace trade finance processing automation answer DOKA-NG. &#13

With trade finance operations spanning 7 branches across California, SBIC will be employing DOKA-NG to approach letters of credit history (LCs), standby LCs and documentary collections for improved consumer knowledge, optimized again-business operational efficiencies and decreased expenditures. SBIC – which is a wholly-owned but fully impartial entity from India’s most significant lender, the State Lender of India – expected to go-reside with a new solution inside of a limited timeframe. Following a in depth variety course of action, DOKA-NG was picked as the condition-of-the-artwork remedy to help their present-day and long term progress.

Surecomp was selected dependent on its loaded functionality, agile strategy and verified growth and deployment methodology, applicable inside the expected timeframe and with negligible possibility. The undertaking – which was sent and will be supported by Surecomp’s US-dependent team in Hoboken, NJ – is section of the broader Point out Lender of India’s mission to turn out to be one of the world’s top 10 electronic financial institutions, with trade finance being one of the main focal factors of the transformation.

“We selected Surecomp with the self confidence that our fast needs could be fulfilled, both of those functionally and practically, but also for the chance to scale and develop with our long term demands,” explains Jay Patel, SVP & Main Functioning Officer at SBIC. “We see Surecomp as a lengthy-expression engineering associate and we are at the get started of a transformational journey.”

“We are delighted that SBIC selected Surecomp as its subsequent phase trade finance resolution provider,” claims Robin Findlay, VP International Gross sales & Internet marketing at Surecomp. “It is testament to the crew determination and communication with the lender that we efficiently fulfilled their rigorous timeline and appear ahead to ongoing collaboration.”&#13