Case Study: Sandvik streamlines trade finance operations with Surecomp COR-TF

Sandvik re-engineers its trade finance business

Sandvik, the Swedish engineering group, needed to standardize and centralize its global trade finance processes, especially guarantees, letters of credit, and related approvals and reporting. To replace manual and bank-dependent handling, it selected Surecomp and its COR-TF multibank trade finance solution to support a new centralized operating model with better control, limit management, and fee administration.

Surecomp implemented COR-TF for bank and parent company guarantees, incoming guarantees, export L/Cs, and import L/Cs, along with custom workflow, approval, reporting, and user-interface enhancements. The result was a more transparent and traceable process, lower operational risk, and faster handling: lead times for applications, closing outstanding guarantees, and reporting were reduced by several days, while reporting became centralized and automatically distributed across the group.

Sandvik