German lender Commerzbank AG (CRZBY.PK) Monday announced that it has entered into a strategic partnership with GlobalTrade Corp. or GTC, a Canadian application services provider, to further digitize and automate its trade finance business.
The bank plans to utilise GTC’s @GlobalTrade platform to strengthen its digital trade finance product range. The bank’s corporate clients will be able to access the innovative multi-bank trade finance platform.
For Commerzbank, the digitalisation and automation of processes are key priorities. The bank expects the partnership would enable it to meet the trade finance needs of corporate clients across the globe more efficiently and effectively.
In Germany, Commerzbank shares were trading at 7.48 euros, down 2.45 percent.