SEB Bank, one of the leading commercial institutions in Lithuania, has strengthened its agreement with Bolero International.
Under the terms of the extended agreement, SEB will be able to provide its global customers a multi-bank automation solution to complement existing service offerings.
The Bolero multi-bank service automates the end-to-end lifecycle of the letter of credit and guarantee instruments for both importers and exporters. It aims to remove the costs complexity, discrepancies and time delays that have been associated with traditional paper-based payment processes.
"There is no doubt that the market for multi-banking solutions is growing rapidly and our decision to partner with Bolero confirms SEB's commitment to the needs of its customers as well as to the provision of a standardised multi-banking channel,” comments Lars Millberg, global head, trade finance, global transaction services at SEB.
Last Updated February 15, 2008
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