Bolero International announces major partnership with 360tf for the expansion of Galileo Multi-Bank
Bolero International, the leading provider of cloud-based trade finance digitisation solutions announce their partnership with 360tf; a leading digital trade finance platform that connects banks and corporates from across the globe and enables them to seamlessly manage their trade financing requirements.
The combination of 360tf and Bolero’s offerings will allow corporates to gain greater efficiencies in digitising the end-to-end process from applying for transactions to arranging trade financing. Bolero’s innovative Galileo Multi-Bank for Corporates platform will allow 360tf’s corporate users to digitise their LC flows and improve the visibility of their LC transactions while lowering the cost and risk of transacting with multiple banks.
With this combined offering, 360tf will expand the number of services to their existing corporate users and add significant value to their overall proposition through the Galileo Multi-Bank functionality.
Andrew Raymond, CEO at Bolero International said “We have been impressed by the team at 360tf and we believe that our product offering will complement 360tf’s existing clientele. By providing the 360tf corporate users with access to Bolero’s Galileo LC functionality and Bank network we believe that digitization of trade flows for LC’s is now in reach of the mass market.”
Raymond added; “There is a big corporate demand to utilise proven solutions from leading providers such as 360tf and Bolero. Our partnership is important to our long-term strategy as well as the expansion of our Galileo solutions in Asia and the Middle-East.”
Vincent Acors, Bolero’s director of trade finance, APAC added “360tf’S clients are part of an ever-growing number of corporates who need and want to digitise their communication with their banks. In turn 360tf Banks who are not already on the Galileo platform will be looking to join the ecosystem to assist corporates. I look forward to working with the 360tf team to achieve a stronger offering to our respective clients.”
Co-founder of 360tf Pankaj Mundra said “At 360tf, we have poured decades of experience and expertise in dealing with clients across the globe on their trade finance requirements. In the short period since inception, 360tf has amassed a Gross Transaction Value (GTV) of $375m+ and a user base of 140+ corporates from ten countries with an annual turnover of $10bn. We are excited to be at the cusp of a new future for trade finance and are ecstatic to join hands with Bolero on this journey ahead. We endeavor to onboard 1,000 clients before end of the year, and are confident that through this collaboration, Bolero shall gain significant clientele through the combined solution offerings. “
Vikram Lodha CEO also added: “We strongly believe that challenges are just stepping-stones for innovation and overcoming them lays the platform for a successful revolution! We are delighted to be part of this revolution and have vowed to deliver solutions to address challenges faced by clients across the globe in accessing trade finance – as a start, we have brought down the turn-around time for arranging Trade Finance by 50%”