Commerzbank Partners with GTC to Further Digitize and Automate its Trade Finance Business

Commerzbank has entered into a strategic partnership with GlobalTrade Corporation (GTC), a leading Canadian application services provider of innovative multi-bank trade finance solutions. The bank plans to utilise GTC's @GlobalTradetm platform to strengthen its digital trade finance product range.

As one of Europe's leading trade finance banks, Commerzbank holds the digitalisation and automation of processes as key priorities. This partnership leverages Commerzbank's unique network footprint and GTC's multi-bank technology, coupled with SWIFT connectivity, to meet the trade finance needs of corporate clients across the globe more efficiently and effectively.

"We are very pleased to have found a strategic and reliable business partner in the trade finance business in GTC. Together we will provide digital, multi-bank trade finance solutions to our clients as well as an expanded range of trade products," said Klaus Josef Müller, Head of Trade Finance and Cash Management Product Management at Commerzbank.

"We are excited to work with Commerzbank to deliver meaningful solutions to their corporate clients," said Nick Pachnev, GTC's Chief Technology Officer. Combining our technology with Commerzbank's leading capabilities in trade services will offer a powerful solution that will benefit corporates engaged in export and import of products and services."

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. @GlobalTradetm is a registered trademark of GlobalTrade Corporation. For more information please visit: www.globaltradecorp.com.