AUSTIN, TX (PRWEB) August 27, 2012
Trade Technologies, the global leader in international trade document solutions(http://www.tradetechnolgies.com), and The Royal Bank of Scotland N.V. announced today that RBS will use Trade Technologies’ patented Global Trade Management software to receive online presentations of trade documents from export customers.
Trade Technologies automates the process of instantly delivering original UCP 600 compliant letter of credit documents online to major global trade banks. This far more efficient process combined with Trade Technologies’ document preparation service, allows exporters to eliminate discrepancies, lower transaction costs, enhance reporting and accelerate international payments. Since its founding in 1999, Trade Technologies has completed more than 40,000 fully electronic presentations of original letter of credit documents to major trade banks and has processed over $40 billion of international trade payments.
“We are delighted that RBS will use our platform to automate the presentation of trade documentation for its impressive list of international trade customers,” said Kirk Lundburg, CEO of Trade Technologies. “We do this for over 1,000 customers on nearly $9 billion of transactions each year and they all see significant improvements using our solutions.”
“We constantly look for ways to help our clients reduce their Days Sales Outstanding (DSO), and the Trade Technologies Global Trade Management platform shortens the payment cycle,” said Deborah Seliski, Director, RBS.
Trade Technologies was recently voted the "Best Trade Technology Solutions Company" in 2012 by readers of Trade Finance magazine. In 2011, the company opened an eleventh office (in Chicago), added 150 new clients, was awarded a patent on the Trade Technologies software platform and process, and won the Presidential “E” Award for Exports by the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth.
About Trade Technologies
Founded in 1999, Trade Technologies (http://www.tradetechnolgies.com) is the largest global provider of outsourced trade document services and software. From its 12 offices in Asia, Europe and North America, Trade Technologies provides leading exporters, freight forwarders and international trade banks with trade document solutions. The company’s web-based Global Trade Management platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions. More than 1,000 exporters, global trade banks and freight forwarders depend on Trade Technologies’ services to process over $8 billion in international trade transactions each year. Trade Technologies was recently voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance magazine and won the Presidential “E” Award for Exports by the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth.
The Royal Bank of Scotland Group plc (RBS Group)
The RBS Group is a large international banking and financial services company. Headquartered in Edinburgh, the Group operates in the United Kingdom, Europe, the Middle East, the Americas and Asia, serving over 30 million customers worldwide. The Group provides a wide range of products and services to personal, commercial and large corporate and institutional customers through The Royal Bank of Scotland plc, The Royal Bank of Scotland N.V. and National Westminster Bank, as well as through a number of other well-known brands including Citizens, Charter One, Ulster Bank, Coutts, Direct Line. http://www.rbs.com.
RBS Markets & International Banking (M&IB)
RBS Markets & International Banking (M&IB) is a leading banking partner to major corporations, financial institutions, government and public sector clients around the world. M&IB provides an extensive range of products and services in debt financing, global markets, risk management, investor products, financial advisory and transaction services. The division focuses on long-term client relationships and excellence in product execution underpinned by global insight, local knowledge and a prudent and sustainable banking model to meet the evolving market and regulatory backdrop. Committed to serving clients' needs internationally, M&IB has on-the-ground operations in 38 countries.
Media Contact, for Trade Technologies