Bladex Joins Komgo Trade Finance Platform

Banco Latinoamericano de Comercio Exterior (Bladex) announced on Thursday (Nov. 10) that it is joining Swiss FinTech Komgo’s trade finance platform.

Bladex said in a press release that it is the first Latin American bank to join the Komgo platform, which enables companies to send authenticated messages and conduct transactions. The bank said the new alliance will increase its capabilities to foster international trade in the region as many of its existing clients and partners already use Komgo.

“Bladex is building its strategic plan on a unique business model that will benefit from a series of critical alliances, such as the one with Komgo, which aims to promote financing solutions for foreign trade through new technologies that adapt to clients’ needs and boost the business,” Jorge Salas, Bladex’s CEO, said.

“Through this alliance, Bladex intends to promote new products and financing structures, increase its customer base, achieve operational and efficiency improvements, as well as further strengthen the security of transactions through the capabilities offered by new technologies,” he added.

“Bladex’s involvement brings yet another layer of trust to our digital network and opens a key market for our corporate users,” Souleïma Baddi, CEO of Komgo, said. “We are delighted to support Bladex and its customers in their digital transformation journeys.”

Thanks to platforms like Komgo, trade finance digitization is helping businesses access the financing they need in a more streamlined manner. It also has major advantages for companies that need to manage multiple structured or unstructured loans.

Related: HSBC Launches Digital Platform for Trade Finance

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