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28 November 2016

Atlas Copco Chooses SWIFT MT 798 and GTC’s @GlobalTrade Multi-bank Trade Finance Platform

Atlas Copco has selected GTC’s technology for managing guarantees and export documentary credits, as well as SWIFT MT 798 messages for exchanging trade finance information with banks.

Atlas Copco has selected its @GlobalTrade Multi-bank Trade Finance Platform for handling issuance and receipt of bank guarantees, export documentary credits and export documentary collections.  Atlas Copco has also selected SWIFT MT 798 messages as its preferred method for exchanging trade finance information with its banks.

Atlas Copco’s goal to have a digitized, more standardized and cost effective handling of trade finance transactions has led us to a Multi-bank trade finance solution. GTC was selected because of their responsiveness to our needs and requirements together with the system's flexibility and ease of use.

Marie Sandström, Trade Finance Manager at Atlas Copco Financial Solutions AB.

“GTC is honored that following a rigorous and comprehensive evaluation process Atlas Copco has selected @GlobalTrade cloud solution to streamline its trade finance activities and digitize communications with its multiple financial institutions,” said Nick Pachnev, Chief Technology Officer of GTC.  Extensive functionality combined with flexible design and multiple connectivity options enabled our company to meet requirements of Atlas Copco.” SWIFT, Head of Corporates and Supply Chain, Marc Delbaere said, ‘There is really a lot of momentum right now around the adoption of the MT 798 standards and this is another perfect example of the business value of standardizing the digital flows between the banks and the corporates.’

 

About Atlas Copco
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics.  The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2015, Atlas Copco had revenues of BSEK 102 (BEUR 11) and more than 43 000 employees. Learn more at www.atlascopcogroup.com.

About GTC
GlobalTrade Corporation (GTC) is a software developer and application service provider whose product solutions improve the world of trade finance and trade services. The @GlobalTrade systems help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. Their customers include both business enterprises that need consolidated access to multiple banks as well as financial institutions that require supply chain finance solutions to meet their clients' needs. @GlobalTrade™ is a registered trademark of GlobalTrade Corporation. For more information please visit www.globaltradecorp.com

About SWIFT
SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging, standards for communicating and we offer products and services to facilitate access and integration; identification, analysis and financial crime compliance. Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way. As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies. Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.

For more information, visit www.swift.com or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT.

Extended reading

Message

MT 798

A comprehensive solution for corporate trade
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