Coronation Merchant Bank, a leading financial institution in Nigeria, has partnered with Union Systems Limited to fully automate its Trade Finance Operations. The trade finance software, Trade-XTM comes with a front-end portal, OptimusTM that empowers corporate clients to initiate and manage their trade transactions from both web and mobile platforms from anywhere in the world.
Earlier this year, the Bank announced its partnership with IFC (a member of the World Bank Group) to provide a $40 million Trade Finance Guarantee facility. In addition to this, the Bank has continued to make other strides in Trade financing such as its recent appointment as a designated bank for the collection and remittance of all Revenue Payments (i.e. Import, Excise and other duties) by the Nigeria Customs Service.