Founded in 1991 as a consulting organization
to the export trade industry, LEX-TEK International, Inc.
provides Trade Banker®
and Trade Credit Policy Managersm
services and software to manufacturers, wholesalers, exporters,
trading companies, bankers, non-bank lenders, financial arrangers,
trustees (for securitized assets), trade credit insurance
companies and their specialty insurance brokers.
After writing thousands of trade credit
insurance policies over 30+ years, a principal of LEX-TEK
International witnessed first hand all of the recurring errors
of omission and commission by banks and policyholders, large
and small. With this background and the help of software designers
and Internet experts, LEX-TEK International began creating
In 1995, the first product, Policy
was launched as a proprietary in-house trade credit insurance
policy and contact management system. This system was designed
specifically for internal use by Export Insurance Services,
Inc., a major specialty trade credit insurance broker in the
Southeast, founded in 1989 by a principal of LEX-TEK International.
was created to manage the myriad policy and buyer credit limits,
and various expiration dates for buyer and policy limits that
made servicing this insurance coverage so difficult.
In February 2002, LEX-TEK International
acquired an unrestricted worldwide license from Export Insurance
Services, Inc. to market and modify Policy
at its discretion. It is now being offered exclusively by
LEX-TEK International to the general public for the first
time. In February, 2003, Lex-Tek International undertook a
thorough review and update of Policy Keepersm.
It was completely rewritten from Microsoft
Access® to Microsoft Visual Basic.NET®, the current
standard for the Microsoft family of software. Lex-Tek renamed
the software: "Trade
Credit Policy Managersm"
after this update to better reflect its brand. Enhanced flexibility,
system navigation and reporting were designed into Trade
Credit Policy Managersm.
The functionality that Trade
Credit Policy Managersm
and it's predecessor, Policy Keepersm,
lacked was a way for individual policyholders and their lenders
to monitor and verify that individual invoices and payments
were in compliance with the insurance policy terms and conditions,
and the resulting loans their lenders made against such insured
receivables. In response to this opportunity, Lex-Tek International
created the concept for Trade Banker®.
In 1998, Trade
Banker® v. 1.0 was launched.
It was targeted to banks, other financial institutions, and
companies who used trade credit insurance. Version 1.0 was created
with the assumption that users would want to access the system
on-line. Because widespread use of the Internet for service
applications was in its infancy, LEX-TEK International explored
ways for larger institutions to install the software on their
own internal production systems. In 1999, LEX-TEK International
introduced its Trade Banker®
v.2.0 which was redesigned and tailored to look and feel more
like a MS Windows® application. With this design introduction,
Lex-Tek began licensing the software under both a service application
and software product using its first perpetual license agreement.
use of the Internet grew as a service provider, it became apparent
that the rapid and accurate transmission of data as well as
user-friendly reporting procedures would be essential. This
would make Trade Banker®
accessible to a wider variety of users, large and small. With
this in mind, two features were added in 2002, and Trade
Banker® v. 3.0 was introduced.
This first feature,
AUTOMATED ELECTRONIC DATA UPLOAD allows users to upload invoice
and payment information from their receivables and payables
systems in a delimited ASCII format into Trade
Banker®. This greatly speeds
up the data entry function and reduces the opportunity for human
error. Trade Banker®
is now virtually a fully automated trade credit insurance monitoring
and verification system.
second feature, DATA MANAGEMENT FUNCTIONS, including reports,
were REFORMATTED into MICROSOFT EXCEL® Workbooks. This adds
to the ease of information and data management. Reports can
be easily stored, shared and incorporated into normal business
reports and processes. For policyholders and insurance companies
alike, it means that Shipment and Premium Reports and Past Due
Reports can be prepared and filed in an accurate and timely
manner, addressing three of the four key claims issues:
- Failure To Report ALL transactions
- Underreporting ALL transactions
- Inadequate Buyer Limits (shipping without
- Late Filling (and late premium payment)
In February, 2004, Lex-Tek entered
into a JOINT MARKETING AGREEMENT with CreditHawk Systems,
LLC, Atlanta, Georgia, a leading computer software application
service provider for the legal, trade credit recovery and
bankruptcy users. CreditHawk offers its Collaborative Case
Management (“CCM”)® application service to
both coordinate and manage the detailed and complex legal
and commercial recovery processes for bankruptcy and trade
Lex-Tek sees the natural connection between users of its products
and services to users of Collaborative Case
Management (“CCM”)® users may, or may
not, use trade credit insurance to secure their trade receivables,
or for obtaining trade finance. But, ALL Trade Banker®
and Trade Credit Policy Managersm users find themselves in
need of using Collaborative Case
Management (“CCM”)® when
their trade receivables become delinquent and/or, by their
insurance underwriters, after claims are filed under their
trade credit insurance policies.
In addition, trade credit insurance underwriters require that
their policyholders use due diligence in policing their past
due receivables, collecting any and all delinquent amounts
and to assign all of their rights over to the underwriter
when a claim is paid. The use of Collaborative Case
Management (“CCM”)® automatically provides a seamless transfer of all
collection efforts from the policyholder [both internal (collection
department, in-house counsel, captive finance company, etal.)
and external (outside lender, outside counsel, collection
agency, repossession and remarketing firms, among others)],
over to the insurance underwriter after a claim has been paid.
Management (“CCM”)® lowers the costs
of collecting delinquent accounts (whether pre- or post-insurance
claim) and increases the incidence of monetary recoveries
for both the policyholder and the insurance underwriter. Lex-Tek
is confident that its users will see the added benefits of
combining Collaborative Case
Management (“CCM”)® to the
use of its other products and services. Please refer to
the “Products” dropdown box on the Lex-Tek homepage
for further information.
Dick Boger, Co-founder, President
& CEO (1991 - Present):
Founder, President & CEO of Export Insurance Services,
Inc., a specialty trade credit insurance broker HQ in Atlanta,
Georgia (1989-2002), Co-founder and Chairman of B&R International/Boger
& Reid, Atlanta, Georgia, a middle-market and large-market
corporate, full service commercial insurance brokerage (1982-1989),
Vice President and insurance broker with Frank B. Hall &
Co. (now AON Corp.-NYSE), Atlanta, Georgia (1972-1982), Loan
Officer, Export-Import Bank of the U.S., Washington, D.C.
specializing in trade credit insurance "Master Policy"
underwriting (1971-1972), and Management Trainee, Michigan
National Bank, Lansing, Michigan (1968-1971).
Kyle Cole, Technology Manager (1995
Founder and Principal KTC Integrated Systems, Largo, Florida,
a full service computer hardware and software services company,
including website development, management and application
programming (1989-Present), Co-founder and President NetAdvantage,
Inc., St. Petersburg, Florida, an IT specialty hardware and
software services company (1994-1997), and AT&T Paradyne
Corp., Largo, Florida, Systems Engineer(1981-1987).
Dan Kimberly, Midwest Sales (1998
Founder and President Export Insurance Services-Midwest, Chicago,
Illinois (1998-Present), Vice President Trade Finance, West
LB Bank, Chicago, Illinois, unit of West LB, Germany (1988-1998),
Vice President Trade Finance, First National Bank of Chicago,
Illinois (1976-1988), and Regional Manager, Foreign Credit
Insurance Association (FCIA), Chicago, Illinois (1973-1976).
Christine Topoulos, National Sales
and Marketing (2001 - Present):
Former Special Assistant to the Chairman of the Export-Import
Bank of the United States, Washington, D.C. (1993-1998), Vice
President and Manager, Structured Trade Finance, Citicorp/Citibank,
(1983-1992), Senior Vice President and Manager Trade Finance,
SunTrust Banks, N.A., Atlanta, Georgia (1999-2000), and Export
Finance Manager for two major construction equipment manufacturers.
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