DZ Bank Supports Collaborative Trade Finance with Surecomp’s RIVO

Surecomp recently announced that two financial institutions have subscribed to its newly launched RIVO platform “for collaborative trade finance.”

DZ Bank is the first bank “to sign-up, alongside the leading provider of guarantee insurance in the Nordics.”

Frankfurt-based DZ BANK – which also acts as a central hub to 850 member banks – will invite “its respective corporate clients to communicate via RIVO for the accelerated processing of thousands of trade finance transactions.”

Both companies, which take a digital-first approach to serving their customers, plan “to fully integrate RIVO™ via APIs into their back-office systems for complete straight-through processing.”

DZ BANK – which also manages international trade finance processing requests from the bank’s Hong Kong branch – will “enable a significantly enhanced customer service and process efficiency improvements, while the insurer will optimize its digital customer experience with same day issuance of guarantee bonds.”

Thomas Arendt, Head of Documentary Trade at DZ Bank said:

“As Germany’s second largest bank and a leading trade finance bank processing thousands of transactions every year, RIVO perfectly meets our need to centralize and digitize our corporate communication channel. It will transform the efficiency of our customer service and work in harmony with DOKA-NG, Surecomp’s back-office processing solution.”

Enno-Burghard Weitzel, Surecomp’s SVP of Strategy, Digitization and Business Development, remarked:

“It’s very exciting to see the first customers signing up to RIVO. The value of the platform in fostering collaboration is already gathering great momentum. With the nature of DZ’s business model and the insurance market increasing demand for digital the trade finance solutions, RIVO will serve their respective trade finance communities extremely well.”

As covered in March 2022, Surecomp, which claims to be a market leader in international trade finance solutions for banking institutions and corporations, has confirmed that Societe Generale has now gone live with the latest version of its IMEX solution for back-office trade finance processing automation across four nations in Asia.

IMEX reportedly consists of an online, real-time processing and decision support system that addresses the complete range of trade finance instruments.

By leveraging this all-digital solution, the banking institution is enhancing its business operations and improving the overall quality of its customer service to corporates operating in the region

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