6 days ago
Rand Merchant Bank signs with Surecomp
Surecomp today announced that Rand Merchant Bank (RMB), has selected its award-winning Trade Finance-as-a-Service (TFaaS) solution to drive seamless digital trade finance operations and international expansion.
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With an initial rollout in South Africa, the cloud-based solution will be extended to other markets as RMB strengthens its presence across key global markets. Surecomp's TFaaS will ensure straight-through processing (STP) automation and seamless trade finance communication between RMB and its clients, enabling faster processing times and enhanced operational oversight. The solution's cloud-native architecture ensures resilience, security and future-proof scalability.
'An API-first technology architecture is critical to our modernization journey, to support interoperability, scalability and flexibility in our system design, and accelerate innovation and time to market. This approach supports an omnichannel experience where clients and the broader trade finance ecosystem can interact with banking services in various ways,' said Gavin Moss, Chief Information Officer - Treasury and Trade Solutions at RMB.
The adoption of TFaaS represents a strategic shift for RMB, enabling streamlined trade finance operations with reduced capital expenditure and cost of ownership through a fully SaaS-based model. The move to the cloud ensures certainty of costs while offering the infrastructure to support future transaction growth and volume increases. Additionally, the solution ensures regulatory compliance, including adherence to SWIFT messaging standards, minimizing operational risk while enhancing transaction transparency and efficiency.
"As we continue to expand our international trade finance footprint, it is imperative that we leverage best-in-class technology to ensure efficiency, compliance, and superior client service," said Louis du Plessis, Executive Head - Trade and Working Capital at RMB. "Surecomp's TFaaS solution provides the automation, integration and cost predictability we need to meet our growth ambitions while seamlessly supporting our clients' evolving trade finance requirements."
"We are proud to partner with RMB in its digital trade finance transformation journey," said Tal Weiser, Chief Revenue Officer at Surecomp. "By choosing TFaaS, RMB is embracing a cloud-first approach to trade finance, benefiting from straight-through processing, lower operational costs, and a scalable solution that aligns with their long-term strategic growth objectives."
