World leader for international trade document solutions, announces its 2022 results.
Trade Technologies, the world leader for international trade document solutions, announced its 2022 results, showcasing exceptional growth in its tech-enabled services paired with ground-breaking trade finance technology advancement.
The company's TradeSharp Platform processed over 65,000 trade transactions in 2022, including letters of credit, documentary collections, and open account trades, with a total value of over USD 16 billion.
A remarkable 53% of these transactions were securely presented to banks or buyers online, reducing risk, turnaround times, and overall costs for exporters and trade banks. Digital presentations also lowered carbon emissions through the elimination of the need for domestic and international courier packages. The company facilitated the electronic delivery of over 35,000 sets of trade documents in 2022.
Trade Technologies continued to expand its customer base, welcoming over 100 new clients in 2022, and now boasts over 100 trade professionals in its 16 operations offices across nine countries.
The company's TradeBridge connectivity and data exchange product suite also saw significant advancements in 2022, automating the delivery of data and images for over 6,000 export transactions on behalf of over 150 beneficiaries. The Company also released a new version of its TradeBridge API for Banks. TradeBridge Bank automates the entire transactional lifecycle of letter of credit and collections transactions between exporters and banks.
Since its establishment in 2003, Trade Technologies has successfully processed over 560,000 international trade transactions worth almost USD 150 billion, constantly pushing the boundaries of innovation in trade finance. The company's commitment to delivering cutting-edge solutions, combined with its remarkable results, solidifies its position as a leader in the industry.
“Despite the consistent geopolitical and economic challenges, 2022 was another excellent year for Trade Technologies and our customers,” said Kirk Lundburg, CEO of Trade Technologies. “We expect continued growth in 2023 and beyond as our technology and services continue to provide outstanding value to our customers.”
About Trade Technologies
Founded in 1999, Trade Technologies (www.tradetechnologies.com) is the largest global provider of trade document services and software. From its offices in Asia, Europe, Middle East and North America, Trade Technologies provides leading exporters, freight forwarders, and international trade banks with trade document solutions, training, and consulting.
The Company’s cloud-based TradeSharp platform and Outsourced Trade Document Services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections, and open account transactions. More than 1,500 exporters, global trade banks, and freight forwarders rely on Trade Technologies’ services to process over $16 billion in international trade transactions each year. Globally, Trade Technologies is presenting original letter of credit and other trade documents online to 66 examination offices of 24 banks in 13 countries.
The TradeBridge connectivity and data exchange product suite, automates and digitizes the entire trade finance data and document exchange for exporters and banks for letter of credit, documentary collections and open account presentations. By delivering data and documents directly to the back-office systems of major trade banks, banks and exporters are able to largely eliminate exchanging and processing paper documents and dramatically reducing the cost and time associated with traditional trade finance.
Trade Technologies has 16 operations offices in Atlanta, Boston, Chicago, Dubai, Foshan, Hong Kong, Houston, Istanbul, Kuala Lumpur, London, Los Angeles, Mumbai, New York, San Francisco, Singapore, and Stuttgart. Trade Technologies’ corporate headquarters are in Austin, Texas.
Trade Technologies was named by Silicon Review as one of the “50 Smartest Companies of the Year 2016.” In 2015, Trade Technologies was awarded the Presidential “E” Star Award for Export Services by the U.S. Department of Commerce and was selected by CIO Review Magazine for its annual list of the 20 Most Promising Banking Technology Solution Providers. Trade Technologies was voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance Magazine. In 2011, Trade Technologies won the Presidential “E” Award for Exports through the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth. In 2010, the Company was awarded a patent on the TradeSharp software platform and process.
Anija Obmann - Press & Media