Frequently Asked Questions (FAQs) Trade Finance
WaveBL is a blockchain-based platform that enables the secure transfer of electronic trade documents such as Bills of Lading and documents required for trade finance.
Yes. WaveBL enables electronic presentation of trade documents related to Letters of Credit and Collections, including electronic Bill of Lading (eBL), allowing banks and their customers to replace paper-based document flows.
No. WaveBL enables electronic trade document presentation such as Bills of Lading and documents required for trade finance.
Not at all. The onboarding process is designed to be simple and compatible with existing trade finance processes.
The onboarding process typically takes a few weeks depending on internal bank procedures.
Banks will be able to serve their customers better with faster document presentation, reduced courier costs, improved transparency, and support for digital trade processes.
Move to work in near real-time mode (like most of their payment processes), faster access to financing, fewer document errors and significantly shorter transaction cycles compared to paper-based processes.
Onboarding of a bank is a simple process from the WaveBL perspective, and we have a very simple and friendly process to onboard banks.
Coming soon! WaveBL is building a process together with SWIFT that will allow for every bank to accept electronic presentations via the SWIFT system, which is connected to every bank in the world.