Surecomp announced the acquisition of ELCY Ltd, a UK-based digital trade finance solution provider.
This move reinforces Surecomp’s commitment to “driving digital trade finance transformation through innovation and collaboration.”
The ELCY multi-bank solution, elcyMBP, will reportedly become “a module on Surecomp’s RIVO platform, creating a consolidated digital trade finance ecosystem, enabling Surecomp to deliver even greater value, efficiency, transparency and growth.”
Established back in 2001, ELCY Ltd is closely aligned to Surecomp in heritage, vision, expertise and technical infrastructure.
A SaaS native solution also powered by Amazon Web Services (AWS), ELCY has a strong customer franchise “across Europe and Asia with many large multinational firms particularly in the commodities sector using elcyMBP to streamline workflows and centralize bank communication.”
In welcoming ELCY customers and technology onto RIVO, Surecomp prioritizes “business continuity and a seamless customer experience, while creating access to a broader global network and extended functionality.”
Guy Perry, Surecomp’s President and CEO said:
“Following a strong year and momentum building in digital trade finance adoption, we are proud to expand our network with such prestigious customers and ensure a smooth and uninterrupted service. With ELCY’s proven technology and talented team, we can further enhance our offering and continue to expertly meet the integrated end-to-end processing needs of customers across multiple industries.”
ELCY founder, Robin Cohen said:
“Joining forces with Surecomp, being able to leverage its expertise, global reach and integrated back-office solution provides us with a platform to deliver even greater value to our clients. Together, we are extremely well-positioned to shape the future of digital trade.”
Established in 2001, ELCY is a private company providing e-commerce solutions for the “processing of international trade finance.”
The core product is elcyMBP, a multi-bank portal, enabling corporates to communicate in “a secure and authenticated manner with all their global trade finance banks through one centralized platform.”
The platform has functionality for the proper management of trade finance processing across offices on the corporate and bank side.