DBS signs on to CargoDocs
DBS has signed on to CargoDocs ePresentation to support its corporate customers’ use of electronic presentation under eUCP Letters of Credit.
CargoDocs will enable DBS to handle transactions through the electronic exchange and presentation of eDocs – including electronic Bills of Lading – instead of paper documents, allowing for efficient handling and controlled transfer of title.
The Bank’s adoption of CargoDocs is part of a wider DBS initiative embracing digital innovation to deliver customer-centric solutions, aligned with its core company values to make banking joyful for corporate customers. Digitizing the Bank’s trade finance flows is a key driver for increasing efficiency, speed and accuracy in the handling of trade transactions, while reducing risk and improving compliance and productivity for itself and corporate customers alike.
DBS is the 1st Singapore-headquartered banking group to adopt CargoDocs ePresentation.
Notably, the Global Transaction Services and Trade Finance business of DBS has recently received several significant industry accolades acknowledging its leadership in the Trade Finance domain, including: (i) ‘Best Transaction Bank, Asia’ and ‘Best in Working Capital & Trade Finance, ASEAN’ at The Asset Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2017, (ii) ‘Best Trade Finance Provider, Asia Pacific’ and ‘Best Supply Chain Finance Provider, Asia Pacific’ at Global Finance Magazine’s World’s Best Trade & Supply Chain Finance Providers 2017, (iii) ‘Best Regional Trade Finance Services’ at Global Finance Magazine’s World’s Best Corporate/Institutional Digital Banks in Asia Pacific 2017 and (iv) ‘Trade Alerts Innovator’ at Global Finance Magazine’s The Innovators 2017 – Trade Finance.
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings, is among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for nine consecutive years from 2009 to 2017.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
Find out which Banks are currently using CargoDocs across the globe.