ATLANTA, May 19, 2014 /PRNewswire/ -- SunTrust today announced the introduction of a new set of trade processing and payment tools for companies and institutions that conduct business in international markets. The new trade-processing suite, which includes a client-facing web portal, provides substantially more control over, and visibility into, the complexities and risks associated with trade and standby letter of credit portfolios.
"Treasury and payment services are a major area of focus for SunTrust," said Mark Chancy, wholesale banking executive. "Our investment in this trade-processing and payments platform demonstrates our commitment to meeting the global trade and transaction needs of our clients. From core deposit services to capital markets access and M&A advisory, SunTrust is uniquely positioned to serve the evolving needs of clients at every stage of growth."
The new trade processing suite provides clients a full range of trade and standby products, including document images, enhanced reporting, real-time transaction status, robust entitlement controls, and interactive communications with the SunTrust Letter of Credit/International Operations team. The new product suite will help clients manage international business with more precision and greater insight, while also increasing processing efficiencies. Cibar Inc., of Colorado Springs, Colorado, provides the new product suite's back office processing system.
SunTrust Global Trade Solutions offers a broad range of services and products for clients in international markets. From 2010 to 2012, SunTrust was honored as Export Lender of the Year by the U.S. Small Business Administration for providing working capital loans to U.S. exporters. Along with providing expertise to help clients navigate international trade, SunTrust Global Trade also offers tailored export working capital financing solutions.