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Bank of America joins the Marco Polo Network

Thursday 19 September 2019 14:24 CET | News

Bank of America has announced that it is joining the Marco Polo Network to tackle trade finance challenges.

Bank of America is a long standing provider of trade and supply chain finance solutions, with offices spanning Asia Pacific, EMEA, Latin America and North America. The Marco Polo Network operates on the first distributed trade finance platform powered by blockchain technology. It offers its members access to innovative risk mitigations solutions such as receivables discounting, payment commitment and payables finance programs. The initiative aims at making trade finance more transparent, smarter and better connected and is championed by new technology providers TradeIX and R3.

Other members of the Marco Polo Network include BNP Paribas, Commerzbank, ING, LBBW, Anglo-Gulf Trade Bank, Standard Chartered Bank, Natixis, Bangkok Bank, SMBC, Danske Bank, NatWest, DNB, OP Financial Group, Alfa-Bank, Bradesco, BayernLB, Helaba, S-Servicepartner, Raiffeisen Bank International, Standard Bank, Credit Agricole and National Bank of Fujairah.


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Keywords: Bank of America, Marco Polo Network, trade finance, digital banking, US, Asia Pacific, EMEA, Latin America and North America, BNP Paribas, Commerzbank, ING, LBBW, Anglo-Gulf Trade Bank, Standard Chartered Bank, Natixis, Bangkok Bank, SMBC, Danske Bank
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Countries: World