The addition of essDOCS’ CargoDocs solution onto Temenos MarketPlace brings digitization of trade & documentary finance processes, including legal transfer and presentation of electronic title documents.

Geneva, Switzerland & Swieqi, Malta – September 28, 2020: Temenos (SIX: TEMN), the banking software company, announced today that essDOCS, the leading enabler of paperless trade, has joined Temenos MarketPlace. The integration of essDOCS’ CargoDocs solution to Temenos Transact, the next generation core banking software, enables the digitization of shipping and trade documents, including electronic signing and transfer of original title documents such as bills of lading. Paired with Temenos Transact, Temenos’ corporate banking customers benefit from an end-to-end solution and a single platform for the entire Trade Finance value chain.

Temenos provides the winning combination of the broadest banking functionality with the most advanced cloud technology to over 3,000 financial institutions around the world. Temenos MarketPlace allows banks to leverage leading fintech solutions, which complement Temenos software. Solutions are curated and pre-integrated for rapid implementation and time-to-value. Today, Temenos MarketPlace providers deliver innovative solutions that enhance Temenos’ technology, enabling Temenos clients to pursue their journey of differentiation and innovation.

essDOCS’ CargoDocs solution enables users to digitally prepare, manage, sign, legally transfer and e-present trade documentation in a secure and auditable platform powered by automation. CargoDocs eliminates traditional paper-based processes, connecting all trade finance value chain stakeholders (such as issuing banks, advising banks, importers and exporters) through a centralized digital platform. All documents and processes managed by the platform fully conform with eUCP and eURC regulations. 

Alexander Goulandris, Co-CEO, essDOCS, commented: “We are delighted to partner with Temenos to assist its customers in further digitizing and automating their trade and trade finance processes. essDOCS allows Temenos clients to provide an enhanced digital trade finance offering and experience to corporate customers, while both banks and corporates alike benefit from major operational efficiencies and savings achieved through our solution.”

Jenny Alexandrou, Senior Product Manager – Trade Finance, Temenos, added: “We are very pleased to welcome essDOCS into Temenos MarketPlace to complement our already established trade finance offering. With the integration of the essDOCS platform into Temenos Transact for our trade finance clients, we can help financial institutions further improve their current processes, reducing the number of days that trade documents take to reach advising and issuing banks, and thereby facilitating faster presentation and payment.” 
 

About Temenos
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence. 

Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.

For more information, please visit www.temenos.com

About essDOCS
essDOCS enables paperless trade. Its solutions digitize and automate paper-heavy processes, including: online creation/approval/management of all export documents (CargoDocs DocHub), data extraction and structure from paper documents and back-office automated checks (CargoDocs Auto-Document Processing), end-to-end eDocs management for original electronic trade documents such as Bills of Lading and Warehouse Warrants (CargoDocs DocEx), application/issuance of electronic Certificates of Origin (essCert) and fully digital documentary trade finance or supply chain finance under URBPO (Cmatch).

Over 52,000 companies, ranging from 31% of the Fortune Global 100 to innovative SMEs, use essDOCS solutions across 203 countries.
 

Media contacts:

Temenos
Jessica Wolfe & Scott Rowe, Temenos Global Public Relations
+1 610 232 2793 / +44 20 7423 3857
press@temenos.com 

Alistair Kellie & Andrew Adie, Newgate Communications for Temenos
+44 20 7680 6550
allnewgatetemenos@newgatecomms.com

essDOCS
Nicholas Demetriou, CMO, essDOCS
+30 210 724 5960
nicholas.demetriou@essdocs.com