Xytec International introduces its web-based trade finance solution.

Xytec International Corporation is dedicated to providing the best, most cost-effective software solution for banks engaged in international trade finance worldwide. "Our sound technical foundation supports your current and future business needs," says Christopher Walsh, EVP and COO. "We provide innovative, state-of-the-art software to our clients and support them in its use."

Xytec International has more than 10 years of solid experience in banking and software engineering. "Since 1990, when we introduced TradePlus, our first trade finance product, we have helped more than 25 banks around the world -- including clients in Latin America and the Caribbean -- lower their costs, improve productivity and increase their service fee income."

Xytec's newest product is VistaTrade, a Bolero-ready trade finance system, built for the web from the ground up. "VistaTrade serves as a front-end and back-office solution that is tightly integrated on one platform," explains Oscar Bedoya, vice president of marketing and sales. "Our solution is an application suited genuinely for the new e-business economy."

Xytec Interntional invites Latin bankers to learn more about VistaTrade by viewing its web site (www.xytecinternational.com) or visiting its booth at SIBOS, a September 1115 conference in San Francisco organized by S.W.I.F.T., the Society for Woridwide Interbank Financial Telecommunications.

"We are poised to become the very first supplier to the banking industry to introduce a full-fledged Java-based, web-based, component-based, multi-tiered and thin-client application in trade finance," Bedoya says. "For banks to participate successfully in e-commerce on a sustained basis, they will need applications such as VistaTrade, which specifically addresses the needs of the international banking sector in the new economy."

Xytec also offers its clients the ability to automate the transaction initiation process through its web based business-to-business (B2B) application called Direct Client Access.

Xytec International, based in Southfield, Michigan, has established a regional office in Miami to serve Latin financial institutions. "We view Latin America as a vibrant and dynamic market with tremendous potential and are certain VistaTrade will provide a competitive edge in today's aggressive economy," notes Bedoya.

Xytec's client base includes the Brazilian branch of one of the world's largest international banks. In addition, Xytec has clients in the Caribbean, Germany, Switzerland, the Netherlands, the United Arab Emirates, Japan and throughout the United States.

"Our current efforts are greatly focused on expanding our Latin American base," says Bedoya. "We are fully dedicated to providing one of the most powerful and cost-effective software solutions in our industry-one that delivers higher processing capability, significantly reduces operating costs, and offers greater earning potential." Xytec International plans to continue to explore new and better ways of servicing its clients.

"We are continuously forming strategic partnerships as we position our company to become an e-commerce solution provider in international trade finance and document processing," Bedoya says. "In addition to forming partnerships, Xytec looks to directly employ representatives in different regions of the world, to carry out our mission of exceptional support."

Ultimately, Xytec International intends to help its financial clients become leaders in the e-commerce era. "Our business philosophy is to develop close working relationships with our clients and become strategic partners in their efforts to aggressively compete in today's dynamic environment," concludes Allen Ziama, Xytec International's president. "We measure our success by that of our clients."

VISTATRADE IS A POWERFUL MULTI-LINGUAL, MULTI-CURRENCY TRADE FINANCE SOLUTION THAT STREAMLINES A BACK OFFICE OPERATION THROUGH THE AUTOMATION OF:

* Letters of Credit (Commercial, Standby)

* Collections (Clean, Documentary or Direct)

* Payment Orders (Foreign or Domestic)

* Foreign Exchange / Back Office

* Bank Defined Transactions

* BOLERO documentation processing

* Payments (Sight, Bankers Acceptance, Discounted flankers Acceptances, Deferred Payments)

* Accounting Generation

* Accounting Profile Set-up

* Charge Table Set-up

* Cost Center Accounting

* Fee Calculation

* Interest Calculation

* Fee/Interest Deferral

* Templates/Standard Paragraphs or Forms

* S.W.I.F.T., Telex, Fed-line, E-mail and Fax Interface