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Bolero partners with Mitigram to boost trade transaction lifecycle support

By Megha Bhattacharya

November 11, 2020

  • Bolero
  • UK
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Global trade finance digitisation expert Bolero International announced a new partnership with funding and hedging trade risk platform Mitigram. The partnership is expected to combine Bolero’s Galileo trade digitisation platform and electronic bill of lading, with pricing discovery and collaboration network from Mitigram.

Andrew Raymond, CEO, Bolero said, “This partnership with Mitigram will deliver substantial added value for customers on both sides in a vitally important area. Bolero customers will find it far easier to access competitive financing and risk mitigation for special transactions and Mitigram customers will be able to conduct transactions on Galileo, enjoying all the huge advantages of Bolero’s advanced trade digitisation solution, which is safer, smarter and faster.”

The collaboration is expected to offer an end-to-end service through the entire lifecycle of an import/export deal. Within Galileo, a corporate customer wishing to conduct a transaction will be able to request and compare quotes from multiple banks on the pricing of risk mitigation and financing.

Bolero launched its Galileo platform in February. The platform aims to future-proof digital trade services for corporate treasuries, transforming efficiency by enabling management of all credit lines with multiple banks through a single, consolidated view with a highly intuitive interface.

Milena Torciano, CEO, Mitigram said, “Combining Mitigram’s world-leading market network with Bolero’s new Galileo platform will bring customers what they have long wanted from the digitisation of trade, making day-to-day conduct of trade easier for corporates and banks alike and existing technology solutions interoperable. Our partnership with Bolero joins up two adjacent, but previously siloed processes, providing a genuinely seamless experience for corporate treasuries. By combining our two very extensive networks of partners and customers, we will drive adoption, removing the admin burden and lack of transparency from finance and risk in world trade.”

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