back Back

Bank ABC unveils ABC Trade, a digital documentary trade platform

By Delisha Fernandes

September 25, 2023

  • ABC Trade
  • Bank Abc
  • Digital Banking
Share

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.”

Previous Article

September 22, 2023

6 FinTech tweets you should see!

Read More
Next Article

September 25, 2023

PhonePe unveils its Indus Appstore Developer Platform

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

ABC Trade

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 17, 2024

Digital banking glitches drive younger generations away from traditional banks

Read More

July 17, 2024

FIS & Lendio launch ‘SMB Digital Lending’ to boost small business loan processes

Read More

July 17, 2024

Invest Blue taps GBST for its WealthConnect practice management solution

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024