Saudi British Bank selects Bolero electronic trade document solutions
The Saudi British Bank (SABB) has chosen Bolero International’s electronic trade document solutions for its corporate clients.
According to Bolero, SABB is the first bank in the Kingdom of Saudi Arabia to let its clients initiate transactions electronically – and so “eradicate time-consuming inefficiencies associated with paper documents”.
David Dew, managing director, SABB, says the solutions give its clients “transaction-speed and security”.
Bolero sees the deal as a “first step towards the provision of a wider range” of digitised trade documentation solutions via its platform for SABB. There are no specifics yet.
SABB was founded in 1978 and is headquartered in Riyadh. It is an associated company of the HSBC Group. It offers services in commercial, investment, private and Islamic banking.
Bolero is based in Surrey, UK and was founded in 1998. The company says its solutions power more than six million trade documents and $80 billion worth of trade transactions per annum.
