Surecomp and Visa collaborate to enhance trade finance and cross-border payments. Source: Shutterstock.com

Surecomp has announced a new collaboration with Visa. This initiative represents a significant development in cross-border trade finance payments, offering banks an efficient alternative to traditional payments systems and improving international transaction processes worldwide.

The collaboration brings together Surecomp’s cloud-based trade finance platform RIVO, with Visa B2B Connect, creating a solution that will streamline operations and enhance efficiency for financial institutions. This partnership extends the reach of both companies, providing banks with access to an extensive network for trade finance and cross-border payment services.

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Surecomp is a provider of digital trade finance solutions for corporates and financial institutions

Visa B2B Connect is a multilateral B2B cross-border payments network, designed to help financial institutions process high-value corporate cross-border payments globally. The platform increases transparency and predictability of such payments by facilitating transactions directly from the origin bank to the recipient bank.

Banks will be able to use RIVO for trade finance-related messaging alongside Visa B2B Connect for payment messaging, offering a more streamlined process for managing trade finance transactions and associated payments.

Enno Burghard Weitzel, Chief Solutions Officer at Surecomp, said: “We are excited to work with Visa to bring this innovative solution to the market. By combining our expertise in trade finance with Visa’s global payments network, we’re offering banks a powerful tool to enhance their operations and better serve their customers.”

Ben Ellis, Global Head of Visa B2B Connect at Visa, added: “We are working continuously to modernise cross-border payments, to deliver the efficiency and transparency that is so critical for financial institutions and their clients around the world. We are excited to be working with Surecomp to help deliver streamlined solutions for their customers.”