Bank Sinopac extends its reach through TradeCard

Taiwanese bank uses network to provide finance for US company.

Taiwan's Bank SinoPac, which last year forged a multi-country relationship with TradeCard to provide financing, sales and service support to members of the online financial services company, has arranged financing for a US-based TradeCard member via SinoPac offices in Taipei and Los Angeles. This marks the first time a TradeCard member bank has arranged financing for a company outside the bank's home country, and the first time financing has been provided for a domestic TradeCard transaction.

TradeCard's main proposition is to facilitate international paperless transactions based on the co-operation and trust of multiple parties in the trading process, thus making the paper burden of supporting letters...

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