Surecomp Creates Trade Finance API Platform

By: Banking CIO Outlook | Thursday, December 12, 2019

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.

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