View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 8, 2008updated 06 Sep 2016 2:26pm

Arvest Bank selects Surecomp’s IBSnet

The new system automates Bank's trade operations.

By CBR Staff Writer

Surecomp, a provider of trade applications for the financial services community, has announced that Arvest Bank, an Arkansas-chartered state bank, has licensed the company’s Windows-based IBSnet trade finance system to automate its trade finance operations.

Featuring modular and object-oriented architecture with a graphical user interface, IBSnet incorporates import, export and standby L/Cs, collections, payments, guarantees, steamship indemnities and air releases. IBSnet is also expected to reduce turnaround time for transaction processing.

Marta Morrow, Arvest Bank’s senior vice president of international department, said: We took the decision to automate our trade finance business with IBSnet as one way to achieve greater operational efficiencies, deliver higher levels of customer service and build a competitive edge in the marketplace. We will realize such a competitive edge through the re-engineering of our internal processes and adoption of industry best practices. This, in turn, will increase our STP rates and reduce manual intervention, while improving overall risk management.

Joel Koschitzky, chairman and CEO of Surecomp, said: We are delighted to be helping Arvest Bank manage and grow its trade finance business. Arvest is just one of more than 15 banks that have selected a Surecomp solution over the last year to help spearhead their expansion drive. The licensing reflects the near global drive to take up the challenge of automating trade finance operations.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU