back Back

Bolero and HMM join forces to accelerate eBL growth in Asia

By Leandra Monteiro

April 27, 2022

  • Asia
  • Bills of Lading
  • Bolero
Share

Bolero InternationalBolero International, a provider of cloud-based trade finance digitisation solutions, and HMM Co., LTD (HMM), South Korea’s national flagship carrier and one of the world’s leading container shipping companies, announced their collaboration in the adoption of the electronic bill of lading.

The two companies will work together to improve the visibility, transparency, and efficiency of trade transactions by using Bolero’s electronic bill of lading solution.

In March 2022, HMM successfully completed its trial use of the electronic bill of lading between India and China, using Bolero’s Galileo platform. HMM’s customers are expected to receive reliable paperless services without any changes or disruptions to business operations. Leveraging Bolero’s global network of banks, HMM expects continued growth in 2022 working with Bolero on the use of eBLs in Asia.

Bolero’s electronic Bill of Lading (eBL) solution is the trusted replacement for paper Bills of Lading, helping major importers and exporters to reduce the risk and cost of paper-based documents in trade and finance. One of the industry’s most widely used eBL solutions, Bolero has a proven track record with major banks, traders, shippers, shipping lines and port terminals.

The eBL solution enables eBL to be created, transmitted, endorsed, and presented to port authorities or customs electronically, removing many of the inefficiencies associated with paper-based processes. Capturing data electronically at every stage of a transaction, also allows parties to monitor progress as well as access accurate information about ownership and payment throughout the supply chain.

“We are delighted that HMM recognises Bolero’s expertise in this area and is working with us as we look to accelerate the growth of eBLs across Asia,” said Bolero, CEO, Andrew Raymond. “The last year has seen an acceleration of the move towards digital trade, driven by the desire to ensure supply chains stay open during times of crisis and uncertainty.”

“We are pleased with the successful collaboration with Bolero in digital solutions. Eliminating paper-based documents will make the shipping transaction easier, faster, and more secure.” said HMM, Chief Operating Officer, Park Jinki.

“We believe introducing the eBL solution is a significant step in the right direction, and HMM will be committed to providing customers with a digital trade platform that can increase the efficiency and velocity of trade.”

Previous Article

April 27, 2022

VoPay and HES FinTech partner to make real-time payments accessible for Canadian lenders

Read More
Next Article

April 27, 2022

Fiserv enables collaboration among Financial Institutions and FinTechs with AppMarket launch

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Asia

Why predictive AI is a critical necessity in the field of cybersecurity

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

March 13, 2024

SBI selects ‘iCashpro+’ Aurionpro’s Cash Management & Transaction Banking Platform

Read More

February 28, 2024

iGTB Intellect deploys its CTX platform for Societe Generale

Read More

January 23, 2024

Crédit Agricole CIB selects iGTB’s CTX cash management solution

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
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 2023