Banco Latinoamericano de Comercio Exterior (Bladex) has announced its involvement in the trade finance platform of Swiss FinTech Komgo.
Bladex said in a press release that it is the first Latin American bank to join the Komgo platform, which enables businesses to exchange verified messages and conduct transactions.
The new collaboration, according to the bank, will boost its capacity to encourage international commerce in the region, since many of its existing clients and partners already use Komgo.
“Through this cooperation, Bladex hopes to promote new products and financing structures, expand its client base, enhance operating and efficiency, and further reinforce transaction security through the possibilities provided by new technology,” he added.
“Bladex’s partnership adds another degree of confidence to our digital network and opens a crucial market for our business users,” said Komgo CEO Soulema Baddi. “We are thrilled to be able to assist Bladex and its clients on their digital transformation journeys.”
Trade finance digitalization, thanks to platforms like Komgo, is making it easier for firms to obtain the funding they want. It also provides significant benefits for businesses that must manage a large number of structured or unstructured loans.
