Investec taps Surecomp for its digital trade finance tech
Investment banking and wealth management firm Investec has tapped Surecomp for its automated end-to-end trade finance processing technology.
Investec partners Surecomp
Investec selected Surecomp’s Trade Finance-as-a-Service (TFaaS) offering to support its newly formed trade finance business, with the tech firm’s cloud-based DOKA-NG and RIVO solutions allowing the bank to execute trade finance requests from its customers across the world.
The bank manages total assets worth £60 billion across its principal markets of South Africa and the UK, as well as a number of other countries.
Under the Africa Continent Free Trade Agreement (AfCFTA), the demand for trade finance across Africa is expected to increase significantly with the removal of fee-based barriers. Investec intends to capitalise on this demand with Surecomp’s solution.
Investec head of trade finance George Wilson says: “We decided to set the standard for digital client experience by ensuring we are well equipped with both back-end internal trade finance processing and interactive client communication.”
