Siemens Financial Services Selects GTC’s @GlobalTrade Platform for Management of Export Documentary Credits

TORONTO–(BUSINESS WIRE)–GlobalTrade Corporation (GTC) has announced today that Siemens Financial
Services (SFS) has selected its @GlobalTrade Multi-bank Trade Finance
Platform for management of its export documentary credits. The platform
will be initially rolled out in Germany and thereafter expanded to
Siemens entities globally. The system will electronically aggregate all
incoming documentary credits in a global database, facilitate review and
approval, assist in preparation of compliant documents and enable faster
presentation of documents electronically to advising and issuing banks.

Gerhard Heubeck, Head of Trade Finance Advisory at Siemens Financial
Services, reasons the need for the new system implementation as follows:
“After many years of using one of the first standard IT systems
available for export documentary credits, the time has come to find a
successor tool capable to meet the new requirements such as multi-client
capability, processing of new SWIFT message formats, global
accessibility, and state-of-the-art technology that fulfills customer
expectations and high-level cybersecurity demands.”

“SFS has conducted a very meticulous RFP process looking at vendors that
could support its global trade finance process,” said Jacob Katsman,
GTC’s CEO. “We are very glad that GTC was selected as a partner for SFS
and we look forward to collaborating with Siemens on other projects that
would help advance the world of trade finance.”

About Siemens Financial Services

For further information on Siemens Financial Services please refer to: www.siemens.com/finance

About GTC

GlobalTrade Corporation (GTC) is a software developer and application
service provider whose product solutions improve the world of trade
finance and trade services. The @GlobalTrade systems help buyers,
sellers, traders, and financial institutions communicate faster and more
efficiently while reducing risk and improving monitoring and control.
Their customers include both business enterprises that need consolidated
access to multiple banks as well as financial institutions that require
supply chain finance solutions to meet their clients’ needs.
@GlobalTrade™ is a registered trademark of GlobalTrade Corporation. For
more information please visit www.globaltradecorp.com

Contacts

Media
GlobalTrade
Corporation

Marina Heimitz, +1 416-661-8520
info@globaltradecorp.com
www.globaltradecorp.com