Imperial Bancorp, a Los Angeles banking company with $5.7 billion of assets, has introduced an Internet-based global trade finance Web site called Swiftrade.

Imperial announced in a release that the system will enable both importers and exporters to obtain letters of credit and to monitor the progression of letters of credit that are issued.

Peter Knudson, Imperial's senior vice president and general manager of the bank's international unit, noted that the system will give faster access to information about the transfer of letters of credit from bank to bank.

The bank added that any client with Microsoft's Internet Explorer browser will be able to use the system.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.