Suncorp Metway and ABN Amro have signed an international trade finance outsourcing agreement that gives Suncorp access to ABN’s global trade network.
With more than 175 years’ experience in international trade finance, ABN Amro will process all of Suncorp’s international trade transactions including import letters of credit, collection of export proceeds, and risk mitigation on a variety of cross-border transactions.
Suncorp’s national manager for international trade, Robert Chapman, comments, “This partnership will provide our customers with the market-leading global trade capabilities of ABN Amro, one of the world’s top three international trade banks, whilst retaining local processing and the face-to-face relationship with Suncorp’s experienced corporate trade lenders. We are well positioned to satisfy all the international banking requirements of our customers.”
ABN Amro’s director of Global Trade & Advisory in Australia , Phil Dunstan, agrees, “Suncorp’s customers will get the best of both worlds. In addition to the excellent “on the ground” capabilities offered by both banks, customers can access ABN Amro’s MaxTradSM system which allows trade information to be securely transmitted to banks and companies around the world.”
MaxTrad is ABN Amro’s global trade portal that enables the secure exchange of information between trade parties over the internet.