Surecomp, a leading provider of global trade finance solutions, has announced that PT. Bank BTPN Tbk (BTPN), one of the leading privately-owned banks in Indonesia and part of the SMBC Group, has gone live with its DOKA solution.
This solution is aimed at streamlining BTPN’s back-office trade finance processing automation, replacing the bank’s previous trade finance application.
According to a recent report by the International Chamber of Commerce, Asia is the world’s largest region for trade finance, with a total of $1.98 trillion in trade finance issued in 2020. Indonesia is one of the key players in this region, with trade finance playing a crucial role in the country’s economic growth.
The DOKA solution, which is hosted in Jakarta, has been fully deployed and supported by Surecomp’s local teams in Asia.
With seamless integration with the bank’s other trade-related systems for limits and position management, sanction screening, SWIFT connection, collateral management, and core banking, BTPN can now deliver a more efficient customer service supported by expedited internal processing of its growing trade finance transactions in the form of Letters of Credit (LCs), documentary collections, and trade loans.
“Following a very comprehensive selection process involving an RFP, workshops, multiple virtual meetings during the pandemic, I am delighted to be in production with DOKA and to be embarking on this partnership with Surecomp,” explains Intan Wijaya, Head of Transaction Banking and Supply Chain at Bank BTPN.
The implementation of the DOKA solution is part of BTPN’s broader digital transformation strategy, which aims to enhance customer experience and efficiency while reducing costs. “We are committed to providing our customers with the best possible banking experience and this partnership with Surecomp will help us achieve that goal,” adds Wijaya.
Yaron Hupert, Surecomp’s SVP of Account Management, expressed his delight at BTPN’s decision to partner with Surecomp on its trade finance digitisation journey.
“Joining a stronghold of other home-grown Asian banks in Singapore, China, Hong Kong, Vietnam, and the Philippines, we are looking forward to a long and prosperous relationship with BTPN and are whole-heartedly committed to ensuring their success and further strengthening our partnership,” he said.
This partnership is expected to drive growth in the Indonesian trade finance sector, which is projected to grow at a CAGR of 6.3% from 2021 to 2026, according to a recent report by Mordor Intelligence. With the DOKA solution, BTPN will be well-positioned to tap into this growth and provide its customers with the best possible trade finance services.
Originally Posted: https://www.theglobaltreasurer.com/2023/03/06/bank-btpn-in-indonesia-streamlines-trade-finance-processing/
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