Surecomp, a provider of trade finance solutions for the financial services industry, has announced the release of NetLC, a powerful software product enabling corporate and commercial users to initiate and monitor letters of credit (LCs) in-house. Highly flexible and easy to use, NetLC provides corporations with the ability to select the bank at which their self-generated L/Cs should be processed. NetLC facilitates and automates the burdensome task of document preparation.

NetLC includes field-proven multi-banking and electronic data interchange (EDI) capabilities based on cutting-edge Java technology. NetLC can be deployed on different web servers.

“NetLC is clearly a major step forward in the trend toward corporate independence and flexibility,” says Paul Thomas, Surecomp’s director of global sales and marketing. “It’s a perfect example of convergence between the banking and business worlds.”

By means of a standard browser, NetLC automates and streamlines the in-house generation of LCs, thereby guaranteeing both processing efficiency and highly accurate output. NetLC supports a full range of trade finance modules; including standby LCs, amendments, payments and acceptances, guarantees, clean payments, and export collections. NetLC also generates a wide array of inquiries and reports.

Offering three distinct channels of communication – Bolero, FTP and e-mail – NetLC incorporates document preparation and Bolero modules as well as a range of customisable templates.

NetLC further harnesses the power of the internet by allowing corporate users to move initiated LCs through their internal intranet system. Secondary corporate-location users also can gain access to the initiated LCs by means of a sophisticated workflow and hub structure.

“After talking to many national and international corporations and commercial customers worldwide, we developed NetLC.” says Paul Thomas. “NetLC is a fully flexible, scalable, and easy-to-learn solution that meets the needs of all corporations, regardless of their trading style.”