Internet-based trade finance outfit Bolero.net has released two entry-level products designed to replace post and facsimiles and improve the quality of documentary credit advice services.
BoleroAdvise improves the quality of existing documentary credit advice services to exporters through the provision of a bolero.net web-based XML messaging solution.
BoleroApply improves the service to importers when opening documentary credit transactions and includes a pre-advice capability to exporters.
Each solution can be implemented and incorporated into a bank's range of trade services and can be delivered in a standard or bank-branded form. Both offer fully automated translation capability between Swift MT700 and boleroXML standards.
The BoleroAdvise solution has been trialled by a number of financial firms in France including BNP Paribas, Société Generale, Natexis Banque Populaire, Credit Agricole Indosuez and HSBC/CCF.