Stockholm-headquartered Swedbank has gone live with NetIMEX, Surecomp’s Internet-based trade finance customer product. Sweden’s fourth largest banking group, Swedbank, known as FöreningsSparbanken in Sweden, was established in 1997 following the merger of Föreningsbanken and Sparbanken Sverige. The bank supports close to 800 branches in Sweden with a further 280 plus branches throughout the Baltic region. Swedbank initially licensed IMEX, Surecomp’s SWIFT ReadyGold, Bolero-accredited back office trade finance system in 2003. Announcing that Swedbank’s first trade finance customer had gone live with NetIMEX, Ulf Myllenberg, the bank’s trade finance/IT systems manager, said: “Following the successful implementation of IMEX and its integration into the bank’s back office we quickly understood that in order to grow profit levels and stay ahead in a market that is becoming ever more competitive we needed to extend the range of our trade finance services.”
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