Bolero has today announced the commercial availability of the latest version of its powerful Multi-Bank Dashboard, a hosted, web-based application which utilises the Bolero Multi-Bank channel that is now endorsed by a growing number of major corporates and their partner banks.
The Bolero Dashboard adds significant value to corporates who need consolidation visibility as well as ease of access to Import Letters of Credit, Export Letters of Credit and Guarantees. As an integral part of the Bolero environment, the Dashboard is offered on a software-as-a-service basis, providing speed and ease of implementation, global deployment and minimal investment whilst further extending the range of application options to corporates utilising the Bolero Multi-Bank channel.
The Dashboard monitors and manages the Letters of Credit and/or Guarantees through their entire lifecycle, supporting document based "e-processes". At one glance a global corporation will have consolidated visibility of its LC and/or Guarantees position with the ability to drill down to detail levels and take immediate actions or respond to alerts, aiding risk management requirements in today's volatile global markets.
One of the key additions to the Dashboard has been the introduction of advanced amendment management capabilities, particularly important for those corporates dealing with Letters of Credit subject to multiple amendments over time. The dashboard provides fully collaborative capabilities including acceptance and rejection of amendments, history and status as well as full version control and confirmation of the current "Operative Instrument". This significantly reduces the effort and discrepancy risk associated with amendments as well as providing both corporate and bank with the same view of the current status of the amended Letter of Credit.
"The design and capabilities of the enhanced Bolero Dashboard resulted from input from some major customers including Nokia as well as banks such as Standard Chartered, Nordea and Bank of America." said Arthur Vonchek, Bolero CEO. "At Bolero we are fortunate to be partnering with some of the largest and most visionary global corporations and the leading banks dealing globally in trade finance. The introduction of the Dashboard provides another key application to compliment the existing Bolero services and the complimentary trade finance solutions provided by our partners".