Bolero partners with SABB on trade solutions for Saudi Arabia
The trade finance digitisation specialist said that its solutions will be adopted by The Saudi British Bank.
Trade finance digitisation software specialist Bolero International said that its electronic trade document solutions have been selected by The Saudi British Bank (SABB), making it the kingdom’s first bank to enable clients to initiate transactions electronically.
The partnership “will enable SABB to eradicate time-consuming inefficiencies associated with paper documents” and will initially provide Bolero’s electronic guarantees solution, as a first step towards the provision of a wider range of digitised trade documentation solutions via the Bolero platform.
“This partnership is a very exciting development for all at Bolero,” said the company’s chief executive officer (CEO), Ian Kerr. “We are proud to have forged this partnership with a such a progressive and highly respected institution as SABB.
“This is also a testament to Bolero’s dedication to revolutionising world trade through digitisation and improving corporate efficiency. Bolero has cultivated strong working relationships with many banks and we very much look forward to developing our partnership with SABB.”