Swift successfully tests interoperability solution for eBL

Swift in collaboration with BNY Mellon, Deutsche Bank and four electronic Bills of Lading (eBL) platforms, have successfully tested an interoperability solution capable of enabling the widespread use of electronic documents that are critical to digitise trade.

There’s a lot to gain by digitising global trade, from reducing costs and improving transparency to mitigating fraud and addressing the US$2.5tn trade finance gap. And paper-based Bills of Lading – associated with lengthy delays and inefficient processes – offer a significant opportunity for improvement.