China Minsheng Bank partners with Bolero to slash transaction times for importers

Bank will offer the multiple benefits of the Bolero platform as new agreement marks the start of long-term relationship

London, 10th April 2017: China Minsheng Bank is partnering with Bolero to offer importers the multiple benefits and slashed transaction times of the Bolero electronic trade document platform. The agreement between Bolero and China Minsheng Bank marks the beginning of a longer-term relationship that will begin with a significant iron and steel import transaction.

By adopting the Bolero platform, Beijing-headquartered China Minsheng Bank will be able to offer its import-focused clients the advantages of the Bolero platform’s straight-through processing technology which radically reduces turnaround times for all parties while hugely improving security and operational efficiency. Using the Bolero platform, importers will achieve major efficiencies through the digitisation of documents such as bills of lading and letters of credit.

Mr Shi Jie, Vice President of China Minsheng Bank said: “We are delighted to be entering into this partnership with Bolero which will bring our clients all of the Bolero platform’s very important advantages in terms of speed and security. We are committed to facilitating the work of importers through innovation and see this agreement with Bolero as the first step in a long-term relationship that is likely to expand and deliver the same excellent set of benefits to our export clients.”

Ian Kerr, Bolero International CEO, said: “We are very excited to be partnering with such a significant institution as China Minsheng Bank, bringing their importing customers all the gains in speed, ease-of-handling and security for which we are known. For Bolero it is yet another landmark that points to how we are at the centre of China’s trade revolution, leading the advance towards digitisation, greater efficiency and transparency. This should be the start of an excellent and rewarding relationship and we look forward to expanding our services to China Minsheng Bank’s exporting customers in due course.”

 

[Mr Shi Jie (Vice President, China Minsheng Bank) pictured signing strategic agreement with Ross Wilkinson (Asia Pacific Director, Bolero)

Also pictured on the back row: (3rd from the left) Mr Yu Jianlong (Secretary General, China Chamber of International Commerce, (4th from the left) Mr Zheng Wanchun (President, China Minsheng Bank),(5th from the left) Mr Chen Zhou (Vice President, China Council for the Promotion of International Trade and China Chamber of International Commerce)]

 

 

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About Bolero (www.bolero.net)

Bolero is a leader in the digitisation of global trade, providing cloud-based solutions that help organisations optimise working capital, secure trade finance and reduce the risks and costs of global trade.

Since launching the first electronic bill of Lading, Bolero has securely exchanged trade data and documentation between trading counterparties across the entire supply-chain including buyers, sellers, financial institutions and other involved parties.

 

For more information, please contact:

Scott Lunn

The Whiteoaks Consultancy

Tel: + 44 (0) 1252 727313

scottl@whiteoaks.co.uk