On 27th January, Bolero International, the leading trade finance digitisation platform, was named as one of the recipients of Corporate Treasurer 2016 Asia's Best Treasury and Finance Strategy awards.
The annual awards honour those with proven vision, but also those who have endeavoured to share their ideas and broaden the treasury knowledge base within Asia, covering a wide range of categories including “Best Trade Finance Strategy” for which Bolero was a joint recipient alongside HSBC and Reliance Industries.
The award recognises the collective efforts of Bolero, HSBC and Reliance Industries in facilitating an electronic letter of credit (LC) for an export deal in a single day, rather than the standard 15 days it would take to exchange a physical LC. This is the first document exchange of its kind to take place in India.
Bolero welcomes the award win as it continues to strengthen its expansion into Asian markets. Late last year, Bank of China (BOC) became the first of the “Big Four” banks in China to offer exporters the multiple benefits of using the Bolero electronic trade document platform.
Prompted by increased requests from BOC’s extensive global customer-base, Bolero’s straight-through ePresentation processing technology will dramatically reduce turnaround times for all parties involved in export deals between China, Europe, Singapore and South East Asia.
“We’re honoured to have been recognized for our part in facilitating this transaction,” Ian Kerr, CEO of Bolero, said. “It’s immensely gratifying to receive this award which validates the global demand for a more efficient, cost-effective and secure method in successfully completing trade transactions between global organisations”.
Ross Wilkinson, Head of Global Accounts for Bolero, added: “Facilitating these significant transactions between organisations such as HSBC and Reliance Industries proves there is a growing requirement for ePresentation solutions in key global industries. Bolero is poised to instigate the revolution in ePresentation and digital transactions with the speed, ease-of-handling and security for which we are known.”