Germany-based Commerzbank AG has announced its partnership with Surecomp to deploy its DOKA-NG tool for back-office trade finance processing across several entities. Commerzbank AG considers trade finance as a core solution that offers enterprises the possibility to process high transaction volumes every year, in a secure and effective manner.

The collaboration represents an integral to the financial institution’s future development strategy, as leveraging DOKA-NG is expected to strengthen and standardise the back-office processing of letters of credit, guarantees, as well as other trade finance instruments. DOKA-NG will be hosted in the bank’s private cloud environment and will focus on streamlining Commerzbank AG’s internal operations as well. This process is expected to improve the overall control and visibility of the financial institution, while also enabling faster and more secure customer approvals.

More information on the partnership Commerzbank AG represents a Frankfurd-based financial institution that provides users and partners with access to its two business segments: the Private and Small-Business Customers and Corporate Clients. The suite of solutions was designed in order to deliver a comprehensive and secure portfolio of financial tools, focused on the growth and development of its clients. Surecomp is a company that provides digital trade finance services for corporations and financial institutions, enabling them to access sustainable and safe trade by fostering partnerships.

At the same time, its portfolio of cloud and on-premise tools streamlines the trade finance lifecycle for frictionless and efficient transaction processing, optimised risk compliance and mitigation, as well as the decision to accelerate their development. The collaboration between Surecomp and Commerzbank AG follows a lengthy evaluation, with the bank selecting its partner for its suite of solutions, extensive global client community, and commitment to driving deals and open API-based digital trade finance transformation. At the same time, the strategic deal aligns with Commerzbank AG’s long-term strategy of facilitating global trade finance for its German corporate users and partners.

By implementing a new, modern technological infrastructure, the financial institution will focus on its development in the trade finance industry, while also personalising its offerings in order to meet the needs, preferences, and demands of its clients and users. In addition, both teams are set to be fully committed and ready to deliver an advanced and secure trade finance platform, while also remaining compliant with the laws and regulations of the local market. .