Bolero International launches Galileo TPaaS for Banks

By Megha Bhattacharya

Cloud-based trade finance digitisation provider Bolero International today announced the launch of Galileo TPaaS for Banks, a white-labelled trade portal-as-a-service solution for financial institutions. The solution’s multi-banking capabilities enable a bank’s trade clients to bank in a whole new way. Trade clients for the first time can execute transactions to all their banking partners from Bolero’s easy-to-use, intuitive, and robust all-in-one portal.

“In the current backdrop of the pandemic, the demand for digital trade services is at its peak. Galileo TPaaS is designed to help banks deliver digital trade services to their clients without the need to take on a complex implementation project or make heavy technology investments towards digitization. Our vision of Galileo TPaaS is to enable banks to offer an elevated customer experience to the end-user at a fraction of the cost that banks incur in traditional trade portal solutions.” said Anchal Tiwari, Head of Product at Bolero International.

According to Bolero, the solution aims to give corporate customers greater autonomy in the management of their Letters of credit, Guarantees, standby LCs and documentary collections transactions. It delivers an enhanced user experience, functionality, and a suite of connectivity options for banks. It is available on-demand as a fully managed service on the cloud.

Andrew Raymond, CEO at Bolero International added “To provide a better solution to banks, we have worked alongside our corporate clients and leading multinational banks to create a portal that offers the fastest way to digitise customer experience and dramatically transform the customer experience. We are very excited to be sharing our newest innovation and the biggest leap in the trade finance digitisation space in recent years.”