Surecomp has signed a licensing agreement for Surecomp's COR-TF(R) trade finance solution with engineering firm The Weir Group. A SWIFT-certified application, COR-TF is Surecomp's multi-bank trade finance solution for corporations.

More than 20 companies of The Weir Group currently use trade finance instruments, predominantly bank guarantees, to facilitate their business in the global marketplace. Mostly Excel-based, the firm's traditional trade finance processes and reporting have been time consuming and non-intuitive, resulting in inconsistent performance and quality.

"We have been looking for a an easy-to-use tool with consolidated control that assures unified trade finance processes across the corporation - all only a mouse click away," said Benjamin Peacock, group treasurer of The Weir Group. "After talking to clients of Surecomp, we were duly impressed by their level of satisfaction with both COR-TF product quality and Surecomp service delivery."

"The Weir Group and COR-TF are a perfect fit. Weir manages complex technology products and projects of high value, much of which are tailored to customer specifications. Operating worldwide, the company has a global set-up with decentralized responsibilities, and conducts business with a considerable number of banks," commented Moshe Wolfson, vice-president sales Europe and head of global marketing at Surecomp. "The ever-increasing importance at The Weir Group of corporate trade finance - in terms of growing value and volume - demands a high- performance tool that smoothly and uniformly manages trade finance transactions."

The implementation of COR-TF at The Weir Group is scheduled to begin in March 2015. The COR- TF system is expected to be fully operational by the summer of 2015.