Valmet selects SWIFT MT 798 messages and GTC’s @GlobalTrade Multi-bank Trade Finance Platform
Valmet Corporation 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.
Valmet Corporation has selected GlobalTrade Corporation (GTC)’s technology for managing guarantees and export documentary credits. Valmet has also selected SWIFT MT 798 messages as its preferred method for exchanging trade finance information with its banks.
“One of our Must-Wins at Valmet is Operational Excellence. The purpose of the project now be started with @GlobalTrade solution with its SWIFT network connectivity is to renew and improve Valmet’s operational efficiency through process harmonisation and standardisation, modern and user friendly @GlobalTrade platform, and data and reporting quality improvement for LC and guarantee processing,” comments Joni Ihantola, Corporate Treasurer, Valmet Corporation.
One of our Must-Wins at Valmet is Operational Excellence. The purpose of the project now be started with @GlobalTrade solution with its SWIFT network connectivity is to renew and improve Valmet´s operational efficiency through process harmonisation and standardisation, modern and user friendly @GlobalTrade platform, and data and reporting quality improvement for LC and guarantee processing.
Joni Ihantola, Corporate Treasurer, Valmet Corporation
‘We are excited that Valmet chose our technology to manage its trade finance flows, said GTC’s CTO Nick Pachnev. By combining @GlobalTrade solution with its SWIFT network connectivity Valmet will achieve quick digitisation of guarantees and export documentary credit transactions throughout its global network of subsidiaries and banking partners.’
‘I am always excited to see further adoption of our digitisation channels. The MT 798 standard continues to gather industry support and our partnership with GTC is providing a very nice end-to-end story,’ said Marc Delbaere, SWIFT’s Head of Corporates and Supply Chain.
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. Valmet’s vision is to become the global champion in serving its customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. The advanced services and automation solutions improve the reliability and performance of customers' processes and enhance the effective utilisation of raw materials and energy.
Valmet's net sales in 2015 were approximately EUR 2.9 billion. Valmet’s 12,000 professionals around the world work close to customers and are committed to moving the customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.
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
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