Online trade finance portal LCconnect is reporting that letters of credit transactions processed over its platform during 2001 exceeded $100 million in value.
Fourth quarter deal flow was more than double the previous total since LCconnect went live in May of last year.
Michael Moretti, founder and co-president, comments: "We are able to deliver these results by dramatically streamlining the LC origination process, generating workflow efficiencies and cost savings for our customers."