Recently, GlobalTrade Corporation (GTC) declared that it has been acquired by Komgo, a Swiss headquartered company, facilitating digital trade finance solutions. They both altogether will provide trade finance digitalization solutions to more than 120 worldwide clients and their 11,000 subsidiaries, combining them with their financial institutions and trade service providers on an international basis.
As per Souleïma Baddi, CEO of Komgo, “Cooperatively, Komgo and GTC will offer the largest coverage, and extensive volumes, for our corporate and bank clients. We are blending Komgo’s commodity aptitude with GTC’s industry skill, merging the market for digital trade services. Trade finance is slowly moving towards digital frameworks, and we are glad to be at the forefront of this change.”
GTC's Chairman of the Board, Jacob Katsman stated, “The industry was eager for this amalgamation. Mutually with Komgo, we can now connect corporates to all their financial institutions for obtaining trade finance regardless of what administrative system they use. Solutions facilitated by both companies are correlative and cover an extensive range of payment instruments used in international trade, starting from recognition of fake invoices to automation and management of Letters of credit, Bank guarantee, documentary collections, coordinated with a trade finance marketplace.”
Read more: https://www.emeriobanque.com/news/komgo-joins-gtc-to-facilitate-digitalisation-of-trade-finance
