Lloyds Bank has partnered with Enigio, a tech company offering solutions to ensure integrity, traceability, and possession of digital information. The partnership will look to support the greater use of digital documentation in trade finance using blockchain technology.
The collaboration will look to widen the application of Enigio’s ‘trace:original‘ solution for digital original documents including promissory notes, bills of exchange and bills of lading.
It will also explore opportunities to feature trace:original documents within wider trade finance products, such as documentary collections and credits.
By removing the need to physically transfer documentation within trade transactions, Lloyds Bank is aiming to deliver faster, more affordable, flexible, sustainable, and secure digital trade solutions for clients.
The bank’s partnership with Enigio is also part of its digital strategy and paperless trade initiative.