Valley National Bank of Wayne, New Jersey has licensed Surecomp’s NetIMEX internet trade finance solution for their corporate clients. Valley National Bank previously implemented Surecomp’s Swift Ready Gold accredited IBSnet trade finance system for its back office operations and recently expanded its operation to 35 concurrent users.

The bank becomes the fifth IBSnet customer opting for Surecomp’s complete front to back end trade finance solution.

Valley National Bank is ranked among the top 75 banks in the US.

Kermit Dyke, first senior vice-president of Valley National Bank says, “The licensing of NetIMEX is an integral part of Valley’s plans to expand our trade finance operations in the Tri-State area. NetIMEX will offer our clients the opportunity to access their trade finance business through the internet 24 hours a day whether they wish to initiate new business, inquire on existing instruments or use the NetIMEX reporting facilities that are readily available. Thus, we expect that NetIMEX will help us achieve our stated goal of bringing even greater service and efficiency to all phases of our trade finance operations.”

Commenting on the licensing agreement, James Black, Surecomp vice-president and IBSnet product director says: “Surecomp is naturally delighted at the Valley National Bank’s decision to implement NetIMEX. The selection of NetIMEX is recognition of Surecomp’s technical skills; of its understanding of the trade finance business and of the superiority of its products. It also speaks for the thoroughness and professionalism of the bank’s team, which found NetIMEX to be the right solution for the bank’s business prospects. Such recognition by existing clients is one of our greatest assets, which we cherish and of which we are proud. We look forward to seeing the Valley National Bank reap the rewards for implementing Surecomp’s trade finance solutions and to helping them maintain their competitive edge for many years to come”.