(30 July 2007 – Singapore) Standard Chartered and Bolero have inked a deal that will allow the bank to provide its corporate customers with an automated multi-bank Trade platform.Bolero’s multi-bank service enables fully automated Letter of Credit and guarantee instruments for importers and exporters, removing the problems associated with traditional paper based or partially electronic processes.
Standard Chartered global head of Trade Finance, Tan Kah Chye, said the agreement with Bolero recognised the fundamental shift to corporate-centric multi bank automation and the bank’s desire to add value to its customers.
Bolero chief executive, Arthur Vonchek, said the bank’s decision to endorse the Bolero platform heralded a significant change in the relationship between a corporate and their partner banks.