ec-Finance.com
Brief
by Richard Barovick
Export Finance Letter
Organizations & People
June
2000
ec-Finance
is a new letter of credit service provider, based in New York. The
company, whose product is Internet-based, is offering its program
to regional and community banks.
The
facility lets buyers, sellers, and issuing banks communicate; amendments
can be negotiated online; and a database for each letter of credit
is created.
The
system license fees are based on the banks’ asset size, plus a transaction
fee. The program is co-branded with banks.
Chief
Executive Officer B.J. Handal is a former footwear importer. President
Janet Handal was a Vice President at FundsXpress, an Internet banking
company, chair of the White House Information Technology Task Force
and worked for Chemical Bank.
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