New York-listed KeyCorp has introduced an expanded ranged of global trade product offerings, processing capabilities and delivery options as a result of its strategic alliance with Netherlands-based ABN-AMRO.

The new products and capabilities became available to clients in June 2001 through Key's Global Trade Services Group, formerly known as International Trade Services.

A year ago, Key announced an alliance agreement with ABN-AMRO - the world's sixth largest bank by assets - to expand its product offerings and develop a shared processing platform to enhance its international trade capabilities and delivery options.

Key says its clients can now benefit from products and services that feature a broad, multi-channel, product delivery system featuring web-based technology.

Users can initiate letter of credit applications and direct collections, as well as access the status of letters of credit and export collections on the Internet.

Towards paperless transactions

Key's services will be managed at processing centres in Cleveland, Seattle, Chicago, New York City and Hong Kong. The Global Trade Services Group is a division of KeyCorp's Global Treasury Management Group, which offers cash management and international finance services.

The New York-listed company's products and services now include an internet-based information reporting and transaction initiation system (Key Total Treasury); an electronic invoice presentment and payment system (Key Total Invoice); a controlled disbursement network with a full suite of ancillary services and nationwide depository banking capabilities.

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