London, Hong Kong, Singapore & Tokyo, 16 February 2022 – Bolero International, the leading provider of cloud-based trade finance digitization solutions announce their partnership with 360tf; a leading digital trade finance platform that connects banks and corporates from across the globe and enables them to seamlessly manage their trade financing requirements.
The combination of 360tf and Bolero’s offerings will allow corporates to gain greater efficiencies in digitizing the end-to-end process from applying for transactions to arranging trade financing. Bolero’s innovative Galileo Multi-Bank for Corporates platform will allow 360tf’s corporate users to digitize their LC flows and improve the visibility of their LC transactions while lowering the cost and risk of transacting with multiple banks.
With this combined offering, 360tf will expand the number of services to their existing corporate users and add significant value to their overall proposition through the Galileo Multi-Bank functionality.
Andrew Raymond, CEO at Bolero International said “We have been impressed by the team at 360tf and we believe that our product offering will complement 360tf’s existing clientele. By providing the 360tf corporate users with access to Bolero’s Galileo LC functionality and Bank network we believe that digitization of trade flows for LC’s is now in reach of the mass market.”
Raymond added; “There is a big corporate demand to utilize proven solutions from leading providers such as 360tf and Bolero. Our partnership is important to our long-term strategy as well as the expansion of our Galileo solutions in Asia and the Middle East.”
Vincent Acors, Bolero’s Director of Trade Finance, APAC added “360tf’S clients are part of an ever-growing number of corporates who need and want to digitize their communication with their banks. In turn, 360tf Banks that are not already on the Galileo platform will be looking to join the ecosystem to assist corporates. I look forward to working with the 360tf team to achieve a stronger offering to our respective clients.”
Co-Founder of 360tf Pankaj Mundra said “At 360tf, we have poured decades of experience & expertise in dealing with clients across the globe on their Trade Finance requirements. In the short period since its inception, 360tf has amassed a Gross Transaction Value (GTV) of $375 million+ and a user base of 140+ corporates from ten countries with an annual turnover of $10bn. We are excited to be at the cusp of a new future for Trade Finance and are ecstatic to join hands with Bolero on this journey ahead. We endeavor to onboard 1,000 clients before the end of the year and are confident that through this collaboration, Bolero shall gain significant clientele through the combined solution offerings. “
Vikram Lodha CEO also added: “We strongly believe that challenges are just stepping-stones for innovation and overcoming them lays the platform for a successful revolution! We are delighted to be part of this revolution and have vowed to deliver solutions to address challenges faced by clients across the globe in accessing trade finance – as a start, we have brought down the turn-around time for arranging Trade Finance by 50 percent”
About Bolero International
Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero International has built a formidable reputation and market leadership position in driving the digitization of global trade. Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitizing trade processes and transactions.
About Galileo Multi-Bank for Corporates
Galileo Multi-Bank for Corporates enables corporates to transact on a single platform instead of multiple bank platforms advising and applying for LC’s, Stand by LC’s, Bank Guarantees, e-presentations, and electronic bills of lading. Corporates can access all of their trade finance transactions and services 24hrs a day regardless of department, subsidiary, or geographic location. Significant features in Bolero’s Galileo provide the visibility and control of the corporate over the end-to-end process.
Banks also benefit from a greater scope of innovation through Galileo, the solution helps financial institutions achieve faster communication to their corporate customers, helping to manage advice, application, and discrepancies digitally, reducing transaction times, resources, and all within a secure environment.
Backed by over a decade of Trade Finance expertise, 360tf is a Nimai group endeavor to build a novel ecosphere that instantly connects businesses and financial institutions across the globe to fund trade flows on the best of terms.
While 360tf is Headquartered in Singapore, Nimai as a group is present in UAE, Qatar, Kenya, Nigeria, Bangladesh, Sri Lanka & India with associate partners and clients in more than 40 countries including significant coverage in Africa, South Asia, GCC & Europe. Nimai group also cherishes 250+ relationships with various Financial Institutions comprising Commercial Banks, Debt and Sectoral Funds, Private Equity Funds, Multilateral Agencies, Alternate Financing Institutional Funds, and Development Financial Institutions with a specific focus on Trade Financing. With a track record of facilitating trade finance transactions of USD 2 billion the group is best positioned to digitize financing in the industry through 360tf.
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