Surecomp Expands Its Reach With Acquisition of ELCY

In a significant move within the trade finance sector, Canada’s Surecomp has announced its acquisition of UK-based ELCY, a firm known for its innovative trade finance solutions. This acquisition, which includes ELCY’s flagship multi-bank platform, elcyMBP, is expected to enhance Surecomp’s offerings and expand its global footprint in trade finance solutions.<\/p>

• Acquisition Details<\/strong>: Surecomp has acquired ELCY for an undisclosed sum, integrating its technology and customer base into its existing services.<\/li>
• Platform Integration<\/strong>: ELCY’s elcyMBP will be incorporated into Surecomp’s RIVO platform, enhancing its capabilities in trade finance.<\/li>
• Clientele Expansion<\/strong>: The acquisition brings ELCY’s notable clients, including major banks like HSBC and BNP Paribas, under Surecomp’s umbrella.<\/li><\/ul>

Surecomp is a leading provider of trade finance solutions, specializing in software that facilitates international trade transactions. Founded in Canada, the company has established a strong presence in the global market, offering innovative solutions that streamline trade finance processes for banks and corporations.<\/p>

ELCY, based in the UK, has made a name for itself with its elcyMBP platform, which is powered by Amazon Web Services (AWS). This platform allows corporates to manage their trade finance transactions with multiple banks through a centralized interface. Key features of elcyMBP include:<\/p>

• Multi-Bank Communication<\/strong>: Enables seamless interaction with various banks globally.<\/li>
• SaaS Solution<\/strong>: Offered as a Software-as-a-Service, making it accessible and scalable for users.<\/li>
• API Integration<\/strong>: Facilitates data mapping and integration with front, middle, and back office functions.<\/li><\/ul>

The acquisition of ELCY is a strategic move for Surecomp, allowing it to:<\/p>

1. Enhance Product Offerings<\/strong>: By integrating elcyMBP into its RIVO platform, Surecomp can provide a more comprehensive suite of trade finance solutions.<\/li>
2. Expand Market Reach<\/strong>: The addition of ELCY’s clients, particularly in the commodities sector in Europe and Asia, positions Surecomp to tap into new markets.<\/li>
3. Leverage Technology<\/strong>: Utilizing AWS for both platforms ensures robust performance and scalability, catering to the growing demands of trade finance.<\/li><\/ol>

With this acquisition, Surecomp is poised to strengthen its position in the trade finance industry. The integration of ELCY’s technology and client base is expected to drive growth and innovation, enabling the company to offer enhanced services to its customers. As the global trade landscape continues to evolve, Surecomp’s strategic expansion through acquisitions like ELCY will be crucial in maintaining its competitive edge.<\/p>

In conclusion, Surecomp’s acquisition of ELCY marks a pivotal moment in the trade finance sector, promising to deliver improved solutions and expanded services to clients worldwide. The move not only reflects Surecomp’s commitment to innovation but also its ambition to lead in the rapidly changing financial technology landscape.<\/p>

• Canada’s Surecomp acquires trade finance firm ELCY for undisclosed sum – FinTech Futures: Fintech news<\/a>, FinTech Futures.<\/li><\/ul>