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Bank ABC unveils ABC Trade, a digital documentary trade platform

By Delisha Fernandes

September 25, 2023

  • ABC Trade
  • Bank Abc
  • Digital Banking

Bank ABC, ABC Trade, digital transformation, trade documents, Trade Finance systems, GCC, digital banking, FinTech news, FinTech MENABank ABC has announced the launch of ABC Trade, a cloud-based, digital platform powered by Swiss-based technology provider, Komgo SA, offering clients an enriched product suite for Documentary Trade.

The platform delivers end-to-end life-cycle functionality across all trade instruments (imports, exports, and collections) from digital exchange of trade documents, instructions, and free format communication with seamless integration with the Bank’s downstream Trade Finance systems.

The platform benefits from enhanced audit and due diligence controls that are compliant with industry best practices. Additionally, the platform contributes towards sustainability with reduced paper waste and human efforts as well as overall enhanced end-to-end process efficiency.

Amr ElNokaly, Bank ABC’s Group Head of Wholesale Banking said, “We at Bank ABC recognised early, that adopting a “digital-only” model is the only way forward for our industry. Our digital transformation programme is gaining momentum and the launch of our ABC Trade platform marks a landmark moment in this journey. Komgo’s best-in-class technology instantly elevates our clients’ banking experience and strengthens our business offering”.

ElNokaly added, “Listening closely to the evolving needs of our clients, Bank ABC has co-developed a unique digital platform offering with Komgo by leveraging a market leading technology and is establishing a new financial ecosystem in the region that will facilitate sustainable growth and scalability”

Bank ABC is aims to deliver one of the best digital banking experience to its customers, investing in product innovation to meet customers’ demand to support their Trade finance ecosystems.

Souleima Baddi, CEO Komgo, said, “Bank ABC’s commitment to innovation is evident in its digital transformation program, which aims to provide the best banking experience for customers. Our ongoing collaboration is poised to reshape the landscape of documentary trade in the MENA region and beyond, offering a more efficient, secure, and sustainable solution for trade finance needs.”

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