Mercantil Commercebank in Coral Gables, Fla., is now offering open account trade services to corporate clients throughout the Americas, using trading software from TradeCard Inc., of New York.
TradeCard announced the agreement last week and said that its on-demand supply chain management service can reduce Mercantil's labor costs, speed transaction processing, and lower operational risk for pre-shipment financing, invoice discounting, and payment guarantee operations.
Boyan Mintchev, the corporate lending products manager at the privately held, $6 billion-asset Mercantil, said in the vendor's press release: "By offering open account services through TradeCard we can better manage trade risks through real time transaction visibility and third party verification."
