Cloud-based trade finance solution provider Bolero International reports growing adoption among Taiwanese companies and banks looking to digitize manual, paper-based trading processes when building partnerships with Taiwan-based companies. Chimei Corporation Co., Ltd.
CHIMEI used the Bolero Galileo platform to exchange electronic documents during a recent shipment transaction. Kinsan Chemical in Hong Kong. By using Bolero eBL (electronic bill of lading), CHIMEI completed in three days what previously took weeks for parties to exchange physical documents in multiple countries.
Bolero eBL is Wanghai Line As part of the electronic presentation of documents CTBC Bank Taiwan and Bank of China (Hong Kong) in Hong Kong.
Bolero’s Galileo multi-bank platform for businesses provides functionality and integration with banks and other third-party systems, providing end-to-end visibility for corporate customers and banks.
Founded in 1998 by SWIFT, Bolero says Taiwanese companies and banks are keen to digitize manual, paper-based processes as demand rises to digitize trade finance operations.
Bolero’s CEO said: Andrew RaymondLast year saw an acceleration of the move towards digital trade in the region, driven by the desire to ensure supply chains remain open during times of crisis and uncertainty.
David Wang CHIMEI’s vice president of operations head said that the company has “always been committed to enabling digital transformation.”
Bolero’s paperless trading solution reduces the risk of paperwork and reduces our carbon footprint. We will continue to deliver, build trustworthy partnerships with our customers, coexist and prosper together.