Bolero, the world's leading provider of secure Financial Supply Chain solutions, has announced a partnership with Tradelink, the leading provider of electronic services to Hong Kong's export trading community.
Tradelink will make Bolero's electronic Letter of Credit Advices solution available to its 54,000 plus membership of exporter organisations, providing them for the first time with a fast and efficient way to receive their Letter of Credit Advices electronically from financial institutions such as Korea Exchange Bank - the first partner bank to support the Bolero solution on Tradelink.
By using the powerful BoleroAdvise Letter of Credit Advices solution, Tradelink's exporters will benefit from the efficiency and accuracy of electronic processing, saving both time and money and for the first time gaining a single, unified view of all their outstanding Letter of Credit Advices. BoleroAdvise is a secure, standardised platform for the electronic creation and transfer of the Letter of Credit Advices essential for international trade. BoleroAdvise will be available via an easy and quick registration process, accessible online via standard browser-based technology.
"Since the launch of the first Tradelink service in 1997, we've been committed to developing e-commerce among the Hong Kong exporter community.We now work with over 54,000 businesses, helping them to take advantage of electronic services such as the powerful BoleroAdvise solution," commented Justin Yue Kwok-Hung, Tradelink Chief Executive Officer. "BoleroAdvise introduces speed and efficiency into the Documentary Credit Advice process, and with leading banks such as Korea Exchange Bank on board we can play a key role in helping our export customers to achieve real benefits by speeding up the approval of Letters of Credit and reducing their order-to-cash cycle."
"Tradelink is Hong Kong's undisputed leader in e-commerce," added Bolero's Chief Executive Officer, Arthur Vonchek. "We're delighted that Tradelink has recognised the potential of BoleroAdvise to simplify the Letter of Credit Advices procedure for its exporter community, and is now making this service extremely easy for Hong Kong's exporters to use. With BoleroAdvise, exporters can use our technology to gain a single, unified view of all their outstanding bank positions.
"Working with Tradelink, exporters can now benefit from immediate benefits such as improved cash flow management and will really notice the difference as BoleroAdvise helps them to optimise their working capital and credit line positions with their banks," continued Arthur Vonchek. "With over 50,000 exporter customers and strategic banking partners such as Korea Exchange Bank, Tradelink provides an excellent partner for Bolero in Hong Kong, and we believe this partnership model will provide a template for our engagement in other key Asian trade communities as we continue to help organisations unlock real value from the Financial Supply Chain."
BoleroAdvise provides exporters with an accessible and easy-to-install multi-banking service that allows them to receive all their documentary credit advices on the same platform, in the same format, regardless of the identity of the advising bank. BoleroAdvise provides a clear audit trail, with information presented for all in a standard and user-friendly format.