Landesbank Hessen-Thüringen (Helaba Group) is updating its trade finance processes by introducing new software that will include new letter of credit (L/C) solutions.

Helaba Group is modernising its trade finance business by incorporating the TLM Trade Finance Solution developed by Smartstream.

Deployment

The TLM Trade Finance solution will be deployed to cover all of Helaba Group's trade finance processes, according to Smartstream.

The UK-based software developer says these include L/Cs guarantees, collections and transfers.

Group profile

The Helaba Group is one of the largest German Landesbanks, which are regionally organised state-owned banks, unique to Germany and predominantly active in wholesale banking.

The landesbank has two head offices in Frankfurt and Erfurt, a customer base of five million clients and total assets of over EUR 176 billion.

Helaba Group is a long-standing client of Smartstream, which specialises in transaction lifecycle management software.

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