Dresdner Bank Adopts Bolero's Letter of Credit Solutions
Dresdner Bank is to work with Bolero to provide corporate customers with a single secure electronic gateway to all their trade finance transactions. Working with Bolero’s BoleroApply and BoleroAdvise solutions, Dresdner Bank will extend its communications and e-commerce services by providing corporate customers with a DTA-compliant communication service to manage their Letter of Credit Applications and Advices. The DTA standard for documentary credit has been developed by members of the Zentraler Kreditausschuss (ZKA), with the goal of creating a standardised format for various messages including the exchange of Letter of Credit Advices and Applications. Dresdner Bank’s corporate customers will be able to deploy Bolero’s secure online technology to save time and cut costs by improving the speed, efficiency and accuracy of their Letters of Credit Applications and Advices. Leading Dresdner Bank customers such as the major Swiss-based Glencore group are already using Bolero’s financial supply chain solutions.