ING and Sucafina have collaborated with digital trade finance specialists, Komgo, to deploy the most-cutting edge version of the firm’s Digital Agent solution for syndicated borrowing base facilities.
The system will replace all communications (such as ad hoc emails, letters of intentions, etc.) related to trade finance transactions between Société Générale and its clients.
The investment was made by Emirates NBD's Innovation Fund, the bank's corporate venture arm.
The deployment will focus initially on our credit risk management solution, #Market, which connects corporates and financing partners for faster price discovery and deal execution on open account and bank risk; as well as distribution in the secondary market.
Through the implementation, BB Energy will leverage both companies’ solutions to streamline borrowing base drawdown with financing banks.
Komgo offers a unique solution for the aggregation of data and software needed by firms engaged in international trade. A major step on the road to interoperability, capable of reducing the risks associated with digitalisation for corporates and banks.
Trade Services Update (TSU) is an independent voice of the trade services industry. TSU was first published under the name L/C Monitor in 1999 as a legal financial journal covering practical aspects of payment instruments in international trade.
Santander CIB has become a shareholder of Komgo with a strategic equity investment. Both companies expect to build up synergy between Komgo’s cutting-edge technology and corporate client base, and Santander CIB’s unique global footprint and leadership in trade finance.
Komgo’s solutions have been implemented to increase the security and comfort of the bank guarantees’ beneficiaries.
In this video interview, Souleïma Baddi and Jorge Salas discuss the objective behind Bladex's deployment of Komgo solutions for clients: to provide a lean setup which has the potential to scale to meet their aspirations for growing the portfolio.
Through this masterclass series, we explore how Komgo solutions are providing a common framework for the global adoption of digital trade services while bringing trust and liquidity back to the market.
International trade operations still require numerous documents and papers that must be presented by customers to their banks. To meet the needs of simplification and time saving, Société Générale has rolled out Komgo for their Cameroonian clients.
Siemens Healthineers is using our export documentary credit and guarantee issuance systems to automate and digitalise their processes, and streamline communications with their financial institutions. Senior treasury manager, Tim Bachinger, discusses the implementation and benefits.
Komgo’s solutions will be deployed for monitoring of inventory, receivables, liabilities and hedging, and will further provide a digital reporting tool to reduce manual operations while increasing transparency for lenders.
Mercuria Group, in collaboration with Komgo as the Digital Agent, has launched a successful and oversubscribed Energy Transition Borrowing Base in the Asia Pacific region.
The fourth episode in our Masterclass series explains how Trakk is providing an industry standard for document security, in this case warehouse receipts, giving financing banks more comfort over inventories pledged as collateral.
