Surecomp® Supports DNB With Full SWIFT Readiness Ahead of New 2021 Deadline

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Toronto, Canada, 20 May 2020 – Surecomp®, the leading provider of global trade finance solutions for banks and corporates, today announced that one of its flagship customers – Norway’s largest bank DNB – is ready to be switched on with SWIFT-compliant versions of both its front and back-end solutions, IMEX and allNETT. Despite the deadline of the guarantee messaging standard moving back to 2021, DNB’s proactive approach is exemplified by dozens of other customers who have also been successfully tested and are ready to go live.

The leading Norwegian bank – one of the first banks globally to be ready in switch-off mode – now has the advantage of being able to allocate funds, time and resources to other value generating initiatives safe in the knowledge that it is prepared to go live when needed. “Having completed testing with no reported issues, we are extremely happy with the successful deployment of these SWIFT-compliant upgrades. The Surecomp team has worked diligently to ensure success and we thank everyone in the team for their support and commitment during this process,” said Ankit Patel, IT Application Manager at DNB Technology & Services.

The rigorous SWIFT changes which are now due to take effect in November 2021 – feature changes to standby letters of credit and guarantee messaging. Surecomp is encouraging banks not to procrastinate and is further poised to deliver compliance readiness and a seamless transition for all of its customers across the globe.

“Delivering unrivalled security and compliance is of utmost importance to us so I’m delighted that, thanks to our dedicated team of experts, we can assure DNB of SWIFT compliance well before the transition deadline, states Yaron Hupert, Surecomp’s SVP of Account Management. “Deployment can be fast and efficient and Surecomp is able to guarantee a successful go live for anyone who is yet to complyWe urge any bank not to delay, to take action now and check this off the list.”