Global provider of trade finance solutions Surecomp has announced the completion of electronic bills of lading (eBL) transactions by merging several parties into its platform RIVO. As per the information detailed in the press release, Surecomp completed eBL transactions with the combination of multiple parties through its collaborative trade finance platform RIVO.

This phase follows the initial transactions processed in September 2023 and focuses on simplifying the whole eBL workflow. Through this, Surecomp aims to allow increased efficiency and transparency, as well as to highlight how an error-free process can minimise the time to process a transaction. More information on the announcement Running two pilot transactions in parallel, Surecomp leveraged MSC Mediterranean Shipping Company (MSC) as the carrier generating the eBL in both cases.

The first transaction also included MAN Truck and Bus, Commerzbank AG, and Bangkok Bank, while the second one contained Voith, Bayerische Landesbank, and Indonesian bank PT Bank BTPN Tbk (Bank BTPN). By leveraging integration with the WaveBL platform to generate the digital Bill of lading, the eBL was attached to the LC transaction in RIVO. Through this, Surecomp intended to demonstrate an efficient transition from the physical to the digital realm, with the document then being centrally accessible and transferable to all parties, the beneficiary, advising bank, issuing bank, and applicant.

Additionally, the company provided live status updates simultaneously verified on the WaveBL platform, while the clean documents were then presented under an electronically issued Letter of Credit (eUCP LC). Furthermore, Surecomp aims to improve bank adoption by providing a secure and simplified eBL ownership transfer via RIVO. Also, by partnering with other eBL solution providers, the company focuses on connecting more to RIVO. Removing separate onboarding and training enables banks to leverage the platform as a centralised hub to access all their providers in the same workflow.

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