The cutting-edge platform for secure and instant transfer of electronically trade documents is now available to all Temenos Exchange users.
Wilmington, September 29, 2023 – WaveBL, the leading provider for the issuance and exchange of electronic trade documents, announced today that its WaveBL platform would be available on Temenos Exchange, the partner ecosystem of integrated fintech solutions.
The WaveBL platform enables the issuance and transfer of all kinds of Documents of Title, certificates and any other trade documents. Now that WaveBL is available on Temenos Exchange, financial institutions and other stakeholders on the exchange that are active in global trade can instantly and securely gain access to documents transferred between them, thus revolutionizing the way documents are presented as part of the letter credit process between banks and their customers and between the banks themselves.
Temenos Exchange brings innovation to the market faster, and at scale. The ecosystem offers pre-integrated and approved fintech solutions that can be easily deployed on top of Temenos’ open platform for composable banking, enabling banks to accelerate the creation of new financial services, while reducing the costs of development.
Martin Bailey, Director of Innovation and Ecosystems, Temenos, said: “Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate and monetize new banking solutions. The integration with Temenos and joining Temenos Exchange means WaveBL can write once and be readily available to the thousands of banks globally that run on our platform.”
“Presenting documents under a letter of credit or collection transactions between customers and their banks and between the banks themselves, is still predominantly a paper-based process. Said, Boaz Lessem, Chief Legal, Regulation and Partnerships Officer at WaveBL “With the coming into force of the new Electronic Trade Documents Act 2023 in the United Kingdom and the anticipated acceleration in the global digitalization of international trade, WaveBL’s availability on Temenos Exchange further extends our commitment to the banking community and enables Temenos customers to easily migrate from a paper-based presentation process to an electronic based one. We look forward to leveraging the power of the Temenos platform to revolutionize the way banks and financial institutions accept electronic trade documents from their customers and to help us achieve our business goals.”