What Cibar does

Cibar, Inc. is a US-based, privately held software vendor founded in 1969 and headquartered in Colorado Springs, Colorado, specializing in trade finance automation for US banks. The company builds and licenses a suite of back-office products centered on its Global Trade Services platform (GTSnet), which covers imports, exports, standby letters of credit, guarantees, bankers' acceptances, reimbursements, cash letters, wire transfers, and participations/syndications. Complementary modules include the Standby Letter of Credit Module with an Evergreen Response Portal for automated renewals, ICCnet (Internet Customer Connection) for corporate-client self-service, MLCS for Federal Home Loan Bank Letter of Credit processing, and the Cash Letter and CashNet systems for cash management and client onboarding. The platform is built on conventional structured design methodologies, communications protocols, and database management systems, and is kept current with periodic SWIFT standards upgrades (most recently the 2023 cycle).

Cibar earns revenue primarily through software licensing — both perpetual and subscription-based — for its core GTSnet module and add-on modules, supplemented by maintenance, support, and version-upgrade services tied to SWIFT compliance cycles. Go-to-market is enterprise field sales: a small direct team (President Nick Mayer, Senior Sales Executive Timothy B. Rock) engages US banks through demo requests and industry events (BAFT, Aquila Aspire), with no reseller or channel partner model. The customer base spans small regional banks through top-10 US banks by asset size, plus Federal Home Loan Banks and their member institutions; 21+ US-based clients were licensed as of 2019, with incremental wins (e.g., New York 2021, Florida 2022, First Horizon 2024, Columbia 2026) continuing through the present. The company is independently owned with no disclosed external funding or parent entity.

Name

Cibar

Legal name

Cibar, Inc.

Website

https://cibar.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

11–50 employees

Short description

Cibar is a privately held US software firm that licenses trade finance automation software — including GTSnet, ICCnet, Standby L/C, and MLCS modules — to US banks ranging from regional institutions to top-10 banks by assets.

Ownership category

akta.pro rank

Headquarters

HQ city

Colorado

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Software Licensing: Cibar licenses its GTSnet, ICCnet, and related products (Cash Letter, Standby Letter of Credit system) to banks. Licensing includes both perpetual and subscription-based models. The company licenses products individually or as a suite (e.g., GTSnet + ICCnet + Cash Letter).
2. Subscription-based GTSnet Module: Cibar offers subscription-based licensing for GTSnet module, particularly for regional banks. This represents a shift toward recurring revenue model.
3. Software Maintenance and Support: Implied revenue stream from ongoing client support, upgrades (e.g., Release 10 of GTSnet and ICCnet), and SWIFT standards compliance updates.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Cibar develops, licenses, and supports proprietary trade finance automation software for commercial banks and Federal Home Loan Banks. The product portfolio centers on the GTSnet (Global Trade Services) back-office system, complemented by the ICCnet corporate customer portal, the Standby Letter of Credit Module with Evergreen Response Portal, the MLCS system for Federal Home Loan Banks, and the Cash Letter System. Software is licensed directly to financial institutions either individually or as an integrated suite, with implementation, support, and ongoing SWIFT standards upgrades provided by Cibar's team.

Product overview

Cibar offers a platform-plus-modules architecture centered on Global Trade Services (GTS/GTSnet) as the core trade finance system. The portfolio includes specialized modules: the Standby Letter of Credit Module with the Evergreen Response Portal for automated renewals, ICCnet (Internet Customer Connection) for corporate client self-service, Cash Letter System and CashNet for cash management, and MLCS for Federal Home Loan Bank Letter of Credit automation. These products work together to provide end-to-end trade finance automation for banks ranging from regional to global institutions.

Differentiator

Problem solved

Functional benefit

Brands

• GTSnet (Global Trade Services): Back office solution for banks incorporating Imports, Exports, Standbys, Guarantees, Bankers' Acceptances, Reimbursements, Cash Letters, Wire Transfers and Participation/Syndication's.
• ICCnet
• Evergreen Response Portal
• MLCS (Member Letter of Credit System)
• Cash Letter

Products and services

• Global Trade Services (GTS) / GTSnet Comprehensive back-office trade finance system for banks of all sizes, covering Imports, Exports, Standbys, Guarantees, Bankers' Acceptances, Reimbursements, Cash Letters, Wire Transfers, and Participation/Syndications, with all information maintained online for instant access.
• Standby Letter of Credit Module Standalone application for processing Standby Letters of Credit, featuring auto extension credits, automated evergreen renewals, direct payments, auto increase/decrease schedules, automated fee billing, and participation/syndications, sold to commercial banks including top-10 institutions.
• Evergreen Response Portal Web application providing seamless integration between bank Account Officers and Operations teams, delivering email notifications of pending renewal notices with a hyperlink to a decisioning portal for standby renewals.
• Internet Customer Connection (ICCnet) Internet-based electronic customer portal installed at banks and accessed by corporate customers, supporting Import and Standby Letters of Credit, Steamship/Airway releases, Direct Collections, Incoming Collections, and Export reporting.
• Cash Letter System System that interfaces to extract files generated by the proof department, providing immediate or deferred credit and processing of returned items for bank cash letter workflows.
• MLCS (Member Letter of Credit System) Client-server back-office Letter of Credit system purpose-built for Federal Home Loan Banks and their Member Banks, comprising MLCS Office for FHLB operations staff and MLCS Web for Member Banks to submit applications and Certificates of Utilization.
• CashNet Banking system component that converts new clients onto Cibar's trade finance ecosystem, supporting onboarding into the broader product suite.

Quantifiable outcome

• Customer testimonials highlight excellent customer service, willingness to troubleshoot and problem-solve, timely and responsive support.

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Columbia BankcoreOEM/ Whitelabel/ Licensing Partner · 13 February 2026Cibar licenses GTSnet, ICCnet, and Evergreen Response Portal to Columbia Bank for trade finance automation.
• TradeSuncoreTechnology or Integration · 1 January 2024Cibar agreed to partnership with TradeSun in 2024. Press release available documenting the partnership agreement.
• First Horizon BankcoreOEM/ Whitelabel/ Licensing Partner · 1 January 2024Cibar licenses GTSnet, ICCnet, and Evergreen Response Portal to First Horizon Bank for trade finance automation.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Surecomp: Surecomp is a direct competitor specializing in trade finance and supply chain finance software for banks and corporates. Its DOKA and IMEX platforms overlap directly with Cibar's GTSnet in functionality and target customer.
• Bottomline Technologies: Bottomline offers trade finance, treasury, and payments solutions to banks and corporates, directly competing with Cibar in the Letter of Credit and back-office trade automation space.

Broad incumbents

• Finastra: Finastra (formed from Misys and D+H) is a large incumbent offering trade finance suites as part of its broader financial-services software portfolio. It serves many of the same global and regional bank customers as Cibar, typically at the top of the market.
• CGI Group: CGI is a large IT services and banking software provider serving North American financial institutions with trade and treasury solutions, frequently competing with Cibar for regional bank modernization mandates.
• Temenos: Temenos provides a broad core banking and trade finance platform suite used by global and regional banks. It competes indirectly via its trade finance modules embedded in larger core banking deals.
• Oracle FLEXCUBE: Oracle FLEXCUBE is a universal banking platform with trade finance capabilities sold into mid- and large-size banks globally. It overlaps with Cibar's GTSnet functionality but as part of a broader core-banking suite.
• Infosys Finacle: Infosys Finacle is a broad banking software suite with trade finance modules sold into global and regional banks. It overlaps with Cibar at the trade-finance back-office level and competes on enterprise transformation mandates.
• Murex: Murex is an incumbent capital markets and treasury/trade finance platform vendor serving large global banks. It competes with Cibar at the upper end of the bank size spectrum where Cibar also has presence (top 10 US banks).

Emerging players

• TradeSun: TradeSun is an emerging trade finance and compliance analytics vendor that recently partnered with Cibar. It competes in adjacent compliance and document-checking categories that overlap with Cibar's trade automation footprint.
• Volante Technologies: Volante provides cloud-native payment and financial messaging processing software, including SWIFT-related infrastructure relevant to Cibar's trade finance customers. It represents a modern architecture alternative to Cibar's legacy stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cibar-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cibar