BBVA signs on to CargoDocs
We’re pleased to announce that BBVA has signed on to CargoDocs for Trade Finance in order to support its corporate customers’ use of ePresentation under eUCP Letters of Credit (eUCP Presentations) and eDocumentary Collections.
The agreement, signed between essDOCS and the Bilbao-headquartered bank in October 2015, makes BBVA the 26th bank to sign on to CargoDocs and the 1st Spanish banking group to adopt the solution.
BBVA is a customer-centric global financial services group founded in 1857. The Group is the largest financial institution in Spain and Mexico and it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey’s biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.
About CargoDocs for Trade Finance
CargoDocs for Trade Finance enables banks to provide enhanced trade finance capabilities to corporate customers who use electronic Bills of Lading and supporting documents – achieved via three key instruments: eUCP Presentation, eDocumenatry Collection and Bank Payment Obligation (BPO)
essDOCS’ online eDocs Exchange acts as a multi-bank platform, enabling users to electronically execute financed trades with increased efficiency, speed and accuracy, in addition to reducing risk and improving both compliance and productivity for banks and corporate customers.