Banco Pichincha in trade finance tech overhaul with Surecomp

Surecomp, a long-standing trade finance tech specialist, has signed Banco Pichincha as its new client.

Surecomp pledges “absolute commitment” to trade finance in Ecuador

The bank, which is Equador’s largest, will deploy Surecomp’s Trade Finance-as-a-Service (TFaaS) solution – DOKA-NG – delivered on a hosted basis.

The vendor says Banco Pichincha’s “international expansion and ambitious growth objectives have fuelled the need to replace the existing solution with a more agile, scalable and robust cloud-based deployment”.

It is understood the bank currently runs the Banktrade solution provided by Surecomp’s rival, BT Systems (formerly Complex Systems Inc), implemented there in the mid-2000s.

DOKA-NG will provide “a completely streamlined and automated transaction lifecycle process”, according to Surecomp, as it has been integrated front-to-back office.

“The transition to a cloud-based solution is a strategic decision integral to Banco Pichincha’s digital transformation,” says Santiago Cano, foreign trade manager at the bank.

The new solution will improve customer experience, efficiency and productivity, he adds.

Robin Findlay, Surecomp’s VP of global sales and marketing, says the vendor pledges “absolute commitment” to drive trade finance growth in Ecuador.

Surecomp has been around for over three decades, providing outsourced and on-premise solutions for trade finance, supply chain finance and treasury. It has clients worldwide and operates across eight offices in Toronto, New York, Santiago, Buenos Aires, London, Hamburg, Tel Aviv and Singapore.