Partnership with Bolero International puts CTBC Bank and Evergreen at forefront of trade finance innovation in Taiwan, offering multiple digitisation benefits to exporters
London, 24th September 2019: CTBC Bank, the leading Taiwanese financial institution, and Evergreen Line, the leading brand in global container shipping headquartered in Taiwan, have entered into a landmark partnership with Bolero International, the trade finance digitisation expert, providing export clients with the multiple benefits and dramatically reduced transaction times of electronic bills of lading (eBLs) executed on the advanced Bolero electronic trade digitisation platform.
CTBC Bank is the first Taiwanese bank to adopt the Bolero platform, underlining the institution’s commitment to digital innovation and the increasing global acceptance of Bolero’s eBL technology and its benefits.
In 2018 Evergreen introduced a new paperless Bill of Lading (i-B/L) and dispatch documentation service making Evergreen the first container carrier to integrate with Bolero’s proven electronic Bill of Lading (eBL) solution.
Evergreen and CTBC are aiming to drive the digitisation of global trade and paperless transactions offering their export clients all the advantages of transaction-speed and security that trade digitisation brings. This is the first stage in a more long-term collaboration that will enable CTBC Bank and Evergreen to take full advantage of Bolero’s digital trade solutions and expertise in global maritime trade.
A spokesperson for CTBC Bank said: “Our new partnership with Bolero is extremely important as it brings our export clients the speed and security gains of electronic bills of lading. This is part of our continuing commitment to digital innovation and the first step in a long-term relationship with the experts at Bolero that will enable us to use technology to offer our clients the best levels of service possible.”
A spokesperson for Evergreen Line added: “We are happy to see CTBC joining Evergreen’s partnership with Bolero. CTBC’s knowledge and expertise in financial digitalisation will certainly add to the competence of our digital i-B/L and i-Dispatch product which we developed from cooperation with Bolero. We firmly believe the synergetic strength created out of collaboration among horizontal alliances will result in more efficient and productive daily operation for our customers, and Evergreen will continue working closely with our partners to explore further extensive solutions that meet customers’ incremental needs arising from market evolution.”
Andrew Raymond, CEO, Bolero said: “Partnering with CTBC Bank and Evergreen is very exciting for Bolero because they share our belief in the transformative benefits of digitisation. Using the Bolero platform, their export clients will be able to transact bills of lading safer, smarter and faster. This significant partnership shows how we continue to lead the advance towards digitisation, greater efficiency and transparency. It is the start of an excellent and rewarding relationship and we look forward to expanding our services to our partners’ clients in due course.”
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