Surecomp: Streamlining the Trade Finance Ecosystem

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Udayan Kelkar, Global Head of Sales and Marketing, SurecompUdayan Kelkar, Global Head of Sales and Marketing
World Economic Forum has estimated that 20 percent value of trade would be the cost of documentary trade as the banks and corporates spend a hefty amount in processing the trade documents. Companies such as Surecomp were the first ones to realize the tremendous need to automate and streamline the whole process of documentary trade.

Founded in 1987 as a fintech company, Surecomp started its journey as a trade finance software solutions provider and has been focusing on trade and supply chain finance ever since. “We help the banks and corporate stakeholders to streamline the entire trade finance process making it more efficient, reliable, and productive by reducing the costs of supporting the trade. In a way, what we are doing is enhancing global trade,” explains Udayan Kelkar, global head of sales and marketing, Surecomp.

Surecomp has an impressive track record of delivering trade finance solutions to a large client base for three decades. Today, it has over 300 clients globally including banks and corporates across North America, South America, Asia, Europe, Middle East, and Africa. “One measure of success is acquiring new clients and businesses while the other is the ability to retain those clients; we are unique in this regard,” says Kelkar. Not only does Surecomp acquire new clients but also continues to retain the old relationships with banks and corporates, which is a sign of trust that clients have in Surecomp.

Surecomp provides trade finance solutions to banks as well as corporates thus giving it a unique vantage view of the entire trade ecosystem. Its trade finance systems help streamline the management of trade transactions, reduce turnaround time, and optimize costs. Surecomp’s trade finance systems provide customers with visibility into the volume and structure of their trade finance transactions. Its trade finance systems have enabled Surecomp to weave several success stories, with large and small/mid-sized banks as well as several corporates. One of those is of a large global multinational corporation operating in almost 140 countries with over 4000 users. Surecomp’s solutions offer corporate organizations a solution to control and manage the risk involved in documentary trade, control costs, improve the efficiency of their different departments, and manage bank limits or credit lines. The solutions help to automate the entire workflow in order to support approval hierarchies, complex corporate structures, and centralized/ decentralized operations.

One measure of success is acquiring new clients and businesses while the other is the ability to retain those clients; we are unique in this regard

Apart from trade and supply chain finance solutions, Surecomp also provides treasury products to businesses in Latin America and is looking forward to delivering them to businesses outside that region. Taking automation and the entire ecosystem of trade finance to the next level, Surecomp is leveraging new technologies such as blockchain—DLT, artificial intelligence (AI), robotics, open APIs, among others. Currently, the firm is participating in blockchain initiatives and realizing the rapid adoption of open APIs amongst banks and corporates. Surecomp also has started leveraging open APIs to enable its customers to access different trade finance solutions quickly and efficiently. The team has already launched Surecomp open API— SAPI—which allows various stakeholders, banks, customers, and corporates to interact with each other. In a nutshell, Surecomp seems to be taking all the possible initiatives to ensure that it offers the best possible and future proof solutions to its clientele.
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Top 10 Fintech Solution Companies - 2019


Toronto, Ontario

Udayan Kelkar, Global Head of Sales and Marketing

Provides trade, supply chain finance, and treasury solutions to help banks and corporates optimize their trade processes

Surecomp News

Surecomp Creates Trade Finance API Platform

Trade finance FinTech Surecomp is rolling out an API platform for the industry aimed at accelerating trade finance industry players’ adoption and integration of technology.

In a press release Canada-based Surecomp said its APIsure platform has officially launched amid deepening collaboration between banks, FinTechs and corporates in the trade finance industry. The platform’s suite of services will see a series of rollouts throughout the year, the company said.

The solution was designed with participation from companies across Europe and Asia, and early testing of the platform saw firms creating their own trade finance applications that can seamlessly integrate with other third-party solutions. Surecomp said APIsure interfaces with banks’ and corporates’ existing API infrastructure, including blockchain projects and initiatives with collaborators across borders.

Developers can access the platform via the Surecomp website and accelerate banks’ and corporates’ rollout of their own trade finance apps.

“Our continued investments in embracing disruptive technologies will enable our customers to move towards higher levels of automation and enable them to run their operations more efficiently, customizing applications to their all-encompassing needs,” Surecomp Chairman and CEO Joel Koschitzky said in a statement.

Lyron Wahrmann, Surecomp’s head of digitization, said the firm has pledged to ensure its customers’ digital futures. “We are confident that APIsure will exponentially extend the capabilities of our trade finance platforms through our collaborative partners and the in-house development of our customers,” Wahrmann said.

APIs have become a critical component of corporate banking technology as Open Banking initiatives in the U.K., Europe and elsewhere proliferate.

Last year France-based Tinubu Square launched an innovation lab to explore trade credit finance technology development with a focus on APIs and blockchain, while APIs have also become a focus for development of technology in other areas of trade, including cross-border payments and B2B eCommerce.

In an earlier conversation with PYMNTS for its B2B API Tracker, Mayank Mishra, managing director and global head of Channel Services for Citi’s Treasury and Trade Solutions, said APIs are allowing companies to take “a leap over applications” and reflect shifting needs among globally trading organizations.