Surecomp, a global provider of trade finance solutions for the banking industry, has acquired Orden’s trade finance business. Based in Santiago, Chile, Orden, a Sonda subsidiary, pioneered Latin American trade automation for two decades.

The acquisition includes the Bancomex & Comex trade finance systems, a development and support centre in Chile and a combined installed base of 12 customers. Staffed by seasoned Latin American trade finance product and technical experts, the centre will also allow Surecomp to expand its sales and marketing efforts throughout the region.  To head its Latin American operation, Surecomp has appointed Cristin Letelier, a Chilean national with 20 years executive experience in operations and technology.
As part of the acquisition, Surecomp has also concluded a marketing agreement with Orden’s parent company, Sonda Ltda., a regional leader in the development and implementation of software solutions to the banking and financial sector, telecommunications and a wide range of commercial and industrial areas.

“This acquisition highlights Surecomp’s focus and its strength in the international banking market place; the move also attests to Surecomp’s financial wherewithal and to its management’s long-range vision and commitment,” says Vladimir Ramirez, Surecomp vice-president, business development.

Speaking at the opening of the new Surecomp support centre in Santiago, Cristin Letelier, added: “The level of interest in Surecomp’s trade finance solutions within Latin America has steadily grown in recent years. This move clearly highlights the importance of the Latin American market to Surecomp and places Surecomp in position to expand its business operations within the region.”