Bolero announces integration with China Systems’ Eximbills trade finance application
London, 28 November 2013
Bolero International Ltd and China Systems, a leading trade services solutions vendor, have finalised the full integration between Bolero Exchange and Eximbills Enterprise, China Systems’ flagship trade finance back office solution.
By providing electronic links between Eximbills and the Bolero trade network, banks are now able to receive and send Bolero trade messages from their back office directly to their corporate customers.
The integration provides Eximbills users with the ability to manage Bolero messages directly through the Eximbills application. It also supports the full range of Bolero collaboration libraries, meaning banks are able to support their multi-bank customers without having to change their existing processes or applications, increasing automation of these functions.
“This announcement underlines the investment Bolero is making in removing barriers to adoption for its banking customers and highlights the open nature of the Bolero infrastructure,” said Bolero VP Product Strategy Tom Rahder.
“With over 42 go-lives already in 2013, our objective is to continue to provide our customers with choice as to how they interact with the Bolero network. Working closely with China Systems is an obvious way of providing this greater value to our bank customer base.”
Increasingly, banks are receiving requests to support multi-banking trade finance applications from their major corporate clients, including the new area of electronic document presentation. Having the ability to manage this functionality direct from their back office simplifies the process of supporting these clients, as well as providing the potential to offer new services and associated products.
“Eximbills Enterprise and the Bolero exchange platform are established components in the trade finance arena and we are pleased to work with Bolero to achieve a seamless connectivity environment for our large customer base,” commented Digby Bennett, regional director, China Systems. “Our Enterprise product set has numerous touch points to the Bolero Network and we see this as a first of many steps towards a cohesive integrated solution for our customers.”
Following this successful consolidation of the core trade finance flows, Bolero and China Systems are now working to integrate ePresentation messages for eUCP and BPO (Bank Payment Obligation), including support for electronic Bills of Lading. China Systems’ offering on the corporate side, Corporate Enterprise (CoE), will also support the Bolero functionality, providing enterprise businesses with a single window multi-bank solution for traditional trade and open account based trade requirements.
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About China Systems
Servicing over 150 banks in more than 75 countries, China Systems has become a trusted name in the banking industry with a loyal and growing customer base. Established in 1983, it has grown to be the largest trade finance system vendor in the world, with offices in Europe, USA, Asia, and the Middle East. Eximbills, its world-renowned back office trade finance flagship product, is an established global standard Trade Finance solution installed by many international banks.
China Systems has passed ISO90001 for implementation and has achieved CMMI3 accreditation for development services. These industry-standard certifications reflect the company's full commitment to provide quality support service to its customers.
Bolero is a cloud-based platform which provides a different way to implement multi-party trade finance solutions. Unlike traditional point to point approaches which are costly, complex and uncertain, Bolero’s cloud architecture ensures fast deployment, ease of use and global access together with no infrastructure costs. Users benefit from accelerated time to cash, reduced costs, greater control and visibility and operational efficiencies.
Because trade finance involves collaboration between multiple parties, all Bolero Applications are built on the Bolero Exchange, a collaborative platform which supports all trade flows between all parties and across all locations. Each Bolero member only needs to connect once and then has common access to all other community members whilst remaining completely insulated from a trade partner’s specific technology and business process.
Bolero is more than a technology solution – it is a community of corporates, banks, insurers and logistics service providers operating in more than 40 countries and managing more than 500,000 trade transactions per month.
For more information, please contact:
The Whiteoaks Consultancy
Tel: + 44 (0) 1252 727313