EmerioBanque

Temenos Partner With essDOCS For Digitization

The initiator of paperless trading, essDOCS has now come in terms with Temenos’ MarketPlace. The current digitized solution is all set to offer integration of essDOCS’ CargoDocs solution to Temenos Transact. This new system will give way to an improved and next generation of core banking software that will give a push to the digitisation of global trade.


The software will enable the digitalization of the entire procedure to initiate peerless shipping and e-trade documents that will also include electronic signing and real-time transfer of original documents such as bills of lading. Working closely with the Temenos Transact, Temenos’ corporate banking customers have been provided with this empowering solution to initiate and execute the entire operations in a Trade Finance value chain.


Talking on how their latest venture will turn around the way the traditional trades used to take place, Jenny Alexandrou, senior product manager of Trade Finance for Temenos, said in her announcement. "With the integration of the essDOCS platform into Temenos Transact for our trade finance clients, we can help financial institutions further improve their current processes, reducing the number of days that trade documents take to reach advising and issuing banks, and thereby facilitating faster presentation and payment”.


Further exclaiming her delight on the commencement of their new project, Jenny further added. “We are delighted to partner with Temenos to assist its customers in further digitizing and automating their trade and trade finance processes. essDOCS allows Temenos clients to provide an enhanced digital trade finance offering and experience to corporate customers, while both banks and corporates alike benefit from major operational efficiencies and savings achieved through our solution.”


Their new collaboration tends to bridge up the gap that has created a considerable dent in the trade finance sector and has caused disruptions in both monetary and business terms. The brand believes in the core values of Trade Finance and believes that a majority of the efficiency in this sector is lost due to the failing speeds of funding process and the unnecessary need for physical documents.


The new merger will look forward to creating a digital eco-space with their solution as the essDOCS allows its users to digitally prepare, sign, manage, present trade documents and also legally transfer funds through this automation arrangement. The ultimate aim of CargoDocs also lies in decreasing the need for manual paper processes, as per their latest announcements.


Adding further on the entire series of announcements, Mick Fennel, business line director of Payments at Temenos, explained the entire situation on how the on-going pandemic has had a devastating effect on trade across the globe and how it has laid adverse destruction of funds. Their newly created process hints at accelerating the changes to the businesses' receivables structures that have already started falling apart during the trying times and proved its inadequacy.


Further, he also said that the companies participating in trades are no longer having months to focus and develop custom solutions and services, instead, they need to amend to new changes quickly.


Source: https://www.temenos.com/us/news/2020/09/28/temenos-adds-essdocs-cargodocs-solution-to-temenos-marketplace-to-digitize-trade-finance-processes/





Other news

Exchange Rates

Currency Buy Sell
EUR USD 1.06 1.10
EUR GBP 0.86 0.89
EUR CHF 1.02 1.06
EUR AUD 1.72 1.70
EUR JPY 116.08 116.56
EUR MYR 4.50 4.77
EUR SGD 1.53 1.57
EUR HKD 8.27 8.53
EUR CAD 1.54 53.84
EUR DKK 9.75 1.55

Most Recent Blogs View All Blogs

08 Feb

Blockchain's Impact on Trade Finance: Shaping Global Commerce

Trade financing facilitates global commerce but involves antiquated systems reliant on manual paperw...

06 Feb

India's Trade Dynamics Amidst the Red Sea Crisis

As of now, there has been no significant impact on India's exports and imports owing to the crisis i...

31 Jan

Choosing the Right Trade Finance Instrument for Your Business

Understanding Trade FinanceTrade finance facilitates transactions and lowers risks for buyers and se...

Disclaimer

Emerio Banque is an innovative global financial institution incorporated in England and Wales with Legal Entity Identifier 875500DGPPWAFABBK130. Emerio Banque does not offer its products and services to businesses and/or persons registered in the United Kingdom.

No information on this website should be construed as a solicitation, offer, recommendation, and representation of suitability or endorsement of any security, investment or strategy.

Important Notice

Emerio Banque would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services offered by us or any intermediary bearing similar names. You should verify with Emerio Banque by calling our Customer Service Number on +44 203 059 7831 or emailing help@emeriobanque.com

Please also be aware of bogus SMS messages and voice message calls or fraudsters who impersonate the staff of Emerio Banque.

We have recently become aware of a number of entities with different names misrepresenting themselves as associates, partners or agents of Emerio Banque.

Please be informed that Emerio Banque is not associated with nor do we have any business connections or dealings with such institutions.

Emerio Banque takes all information regarding suspicious fraudulent activity very seriously. Please immediately inform us at compliance@emeriobanque.com if you suspect or are approached by persons misrepresenting or impersonating Emerio Banque and/or its officials. We will make investigations and will take legal action where necessary.