K&H Trade Finance Service Receives International Award

Global Finance ranked the best financial service providers in 102 countries and 8 economic regions of the USA, and named K&H the “Best Trade Finance Provider in Hungary” for the eighth time. The editorial review board of the international financial magazine Global Finance selected the best trade finance providers based on entries from banks and other providers, as well as input from industry analysts, corporate executives and technology experts. In each country, the criteria for choosing the winners included the transaction volume, scope of global coverage, quality of customer service, competitive pricing and innovative technologies.

“The Trade Finance sector was hit particularly hard by the economic downturn resulting from the COVID-19 pandemic. Therefore, our primary task was to respond to the unprecedented challenge by taking advantage of new technologies. With this in mind, we started to adapt our front-end system to domestic bank guarantee processes, which – in line with our digitalisation efforts – will receive special attention this year again. At the same time, 24-hour embargo screening is performed by a robot. Through the implementation of this new work method, we have managed to make our daily work process suitable for financing custom structured trade transactions despite the changed landscape and thereby support the presence of domestic companies abroad,” said Patrick Van Overloop, head of K&H Business Banking Division, in connection with the award.

Besides Hungary, KBC Group entities in the Czech Republic, Slovakia and Bulgaria were also awarded the ‘Best Trade Finance Provider’ title.

For further information regarding the award, please visit:
https://www.gfmag.com/media/press-releases/global-finance-names-worlds-best-trade-finance-providers-2021