Australia and New Zealand Banking Group (ANZ) has successfully gone live with Bolero's multi-bank trade finance solution, following a rapid implementation of the technology.
ANZ is now live with major corporate customers in Asia, Europe and in North America and has plans to support other known Bolero customers now that this first implementation is complete.
The Bolero web-based trade finance solution enables the automation of the end-to-end lifecycle of Documentary Credits, Standby Letters of Credit, Guarantees, Bonds and other traditional trade instruments for both Importers and Exporters as a true multi-bank solution. In addition, Bolero provides a comprehensive solution set for electronic presentation of documents including a proven electronic bill of lading (eBL). A fast growing number of Corporates are now utilising the Bolero service in collaboration with their partner banks, clearly positioning Bolero as the leader for web-based multi-bank trade finance.
"We are delighted to welcome ANZ as a Bolero customer, particularly as they are recognized as a leader in this space as well as being a key influencer in the Asia Pacific region.", said Arthur Vonchek, CEO of Bolero International Ltd. "As risk has become a key factor in decisions both for banks and for corporates, we have seen the major banks engaged in trade and trade finance look to deploy solutions which mitigate this risk, provide end-to-end security, ensure compliance and guarantee a proven solution for both banks and their corporate customers."