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Finastra, Enigio partner to boost paperless trade finance

Thursday 25 March 2021 14:25 CET | News

Finastra has partnered with Enigio for the development of a solution responsible for managing and handling digital original documents using DLT, according to IBSintelligence.com.

The integration will be carried through Finastra’s FusionFabric.cloud open developer platform and is expected to offer benefits including straight-through processing and machine readability for faster turnaround times and shorter servicing lead times. Enigio trace:original uses distributed ledger technology (DLT) to create an authoritative digital original document whose legal rights are held by its owner. trace:original eliminates the risks associated with paper documents and provides powerful fraud security. Furthermore, by removing the need to manage ‘double data’ – a paper original and its digital copy, further reduces operational risks.

Recently, Finastra and the International Chamber of Commerce announced a collaboration for combating the growing trade finance gap, thus offering micro-, small, and medium-sized enterprises (SMEs) access to a set of alternative financial resources.


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Keywords: Finastra, trade finance, DLT, SMEs, partnership
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech