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HSH Nordbank implements TLM Trade Finance.

Established in 2003, as the result of a merger between Hamburgische Landesbank and Landesbank Schleswig-Holstein, HSH Nordbank is one of Northern Germany's leading financial institutions. With two headquarters in Hamburg and Kiel the firm has total assets of approximately EUR 151 billion and around 3,400 staff.

The DIFC subsidiary SmartStream's solution is now managing the firm's Letters of Credit and collection business for import and export customers. It is also processing HSH Nordbank's foreign guarantee business and standby Letters of Credit, alongside specialist service documentation including ship sales transactions and conditional payments.

Nico Frommholz, Head of Cash Management & Documentary Business at HSH Nordbank, said, "When examining potential solutions for automating our trade finance processes, it was critical and it was flexible enough to manage both the traditional items and documentation unique to our bank. SmartStream's TLM Trade Finance solution met these requirements and provides us with an ideal platform for processing a wide range of documentation at greater automation, thereby improving the quality of our data."

2011 CPI Financial. All rights reserved.

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Publication:CPI Financial
Article Type:Company overview
Date:Mar 18, 2011
Words:181
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