Federal Bank and WaveBL have jointly announced the successful completion of India's first-ever single-bank digital export collection bill transaction. WAVE BL offers an innovative blockchain-based solution facilitating the digital transfer of all trade documents while preserving their uniqueness and authenticity.
This collaboration aligns with Federal Bank's strategy to bolster its digital innovation capabilities in the market. The digitalisation process eliminates risks associated with paper documents, such as forgery, loss, and theft, while also promoting ESG principles by reducing paper consumption and carbon emissions from courier services.
