Mizuho Corporate Bank goes live with Bolero multi-bank solution in three continents
November 2012, London Bolero has announced that Mizuho Corporate Bank has successfully deployed Bolero’s multi-bank trade finance solution on a global basis. Mizuho Corporate Bank is now live with major corporate customers in North America, Europe and in Asia.
“As a leading Japanese and global bank we keep very close to the latest developments in the market” said Mr. Tsukasa Takasawa, General Manager of the Global Trade Finance Division at Mizuho Corporate Bank. “In order to respond to the current and evolving requirements of our corporate customers, we believe it is essential to focus on proven solutions which can deliver real value fast. We have seen the number of corporate customers committed to the Bolero solution continuing to grow and are very happy with our decision to now offer full support for the Bolero solution.”
“We are delighted to see Mizuho Corporate Bank deploying the Bolero multi-bank solution on a global basis.” said Arthur Vonchek, CEO of Bolero International Ltd. “For some time Japanese Banks have been following with interest the developments in multi-banking and the use of electronic document processes. Mizuho Corporate Bank is clearly taking a leadership role in this area and it is exciting to see how they are now responding to the market opportunity.”
The Bolero web-based trade finance solution enables the automation of the end-to-end lifecycle of Documentary Credits, Standby Letters of Credit, Guarantees, Bonds and other traditional trade instruments for both Importers and Exporters as a true multi-bank solution. In addition, Bolero provides a comprehensive solution set for electronic presentation of documents including a proven electronic bill of lading (eBL). A fast growing number of Corporates are now utilising the Bolero service in collaboration with their partner banks, clearly positioning Bolero as the leader for web-based multi-bank trade finance.
Founded in 1998, with significant backing from the bank community and from the global logistics industry, Bolero was created as a neutral, trusted third party to develop an open and legally certain platform to deliver paperless trading between buyers, sellers, financial institutions and logistics service providers anywhere in the world, delivering transaction visibility, predictability, speed, accuracy and security.
Today Bolero brings Corporates, Commodity Traders and their Banks together to share the benefits of collaborative Trade Finance through powerful Trade Finance solutions delivered as a global hosted service supported by an open, neutral and secure multi-party channel designed specifically for the fully electronic communication of trade and trade finance. Customers are able to rapidly deploy Bolero systems, reducing both cost and risk and substantially reducing the time to benefit.
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