China Minsheng Bank is partnering with Bolero to offer importers the multiple benefits and slashed transaction times of the Bolero electronic trade document platform. The agreement between Bolero and China Minsheng Bank marks the beginning of a longer-term relationship that will begin with a significant iron and steel import transaction.
By adopting the Bolero platform, Beijing-headquartered China Minsheng Bank will be able to offer its import-focused clients the advantages of the Bolero platform’s straight-through processing technology, which radically reduces turnaround times for all parties while hugely improving security and operational efficiency. Using the Bolero platform, importers will achieve major efficiencies through the digitisation of documents, such as bills of lading and letters of credit.
Shi Jie, Vice President of China Minsheng Bank, said, “We are delighted to be entering into this partnership with Bolero, which will bring our clients all of the Bolero platform’s very important advantages in terms of speed and security. We are committed to facilitating the work of importers through innovation and see this agreement with Bolero as the first step in a long-term relationship that is likely to expand and deliver the same excellent set of benefits to our export clients.”
Ian Kerr, Bolero International CEO, said, “We are very excited to be partnering with such a significant institution as China Minsheng Bank, bringing their importing customers all the gains in speed, ease-of-handling and security for which we are known. For Bolero, it is yet another landmark that points to how we are at the centre of China’s trade revolution, leading the advance towards digitisation, greater efficiency and transparency. This should be the start of an excellent and rewarding relationship and we look forward to expanding our services to China Minsheng Bank’s exporting customers in due course.”