TradeCard, the financial supply chain service provider that enables importers and exporters to automate their trade transactions through a web-enabled platform, has announced that Postbank, the financial services division of Deutsche Post World Net, will be the first German financial institution to offer TradeCard’s functionality to its corporate customer base. With 10mn customers, Postbank is one of the leading consumer banks in
Postbank customers will gain access to TradeCard’s global transaction management services through a web interface that has the look and feel of Postbank’s brand. The customer can log directly onto the Postbank version of TradeCard using a web browser to deliver documents, or the customer’s back office systems can be fully integrated for two-way document transmission. Once on the TradeCard platform, customers will benefit from electronic services ranging from web-based document management to financial settlement with automated data matching and payment protection. Postbank, whose parent company Deutsche Post World Net recently acquired DHL, regards TradeCard as a unique opportunity to implement an “out-of-the-box” solution to expand its corporate banking product range into the trade finance market.
“For Postbank as financial transaction specialist and subsidiary of Deutsche Post World net, involved in global logistics, TradeCard is the ideal addition to our international trade payment business,” says Stefan J ítte, board member and head of the corporate banking division at Postbank. “TradeCard’s document-based trade finance transaction capability will enable us to offer vital new services to our international corporate clients.”
“TradeCard and Postbank, along with their parent organisation Deutsche Post World Net which owns DHL and Danzas, share the same philosophy,” comments Kurt Cavano, chairman and CEO of TradeCard. “We both understand the importance of connecting the flow of goods and of money and that we can offer our customers significant savings through greater process efficiencies and paperless transactions. This is the perfect partnership.”
TradeCard is a financial supply chain service provider and manages trade transactions from procurement through to settlement. The TradeCard solution aligns the documentary and financial requirements of a domestic or international trade transaction with the physical movement of goods, eliminating time-consuming and error-prone manual processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provides a cost-effective, practical and patented service for financial supply chain management.
TradeCard can send and receive trade information and documents to and from any country in the world. Our money movement capabilities allow us to move money to any country that has a modern banking system. Our network of financial institution partners allows us to facilitate services such as payment assurance, cargo insurance and trade finance in dozens of countries.