Temenos adds essDOCS’ CargoDocs solution to Temenos MarketPlace to digitize Trade Finance processes

Press Releases, September 28, 2020

Temenos – Company

Geneva, Switzerland & Swieqi, Malta – September 28, 2020 – Temenos (SIX: TEMN), the banking software company, announced today that essDOCS, the leading enabler of paperless trade, has joined Temenos MarketPlace. The integration of essDOCS’ CargoDocs solution to Temenos Transact, the next generation core banking software, enables the digitization of shipping and trade documents, including electronic signing and transfer of original title documents such as bills of lading. Paired with Temenos Transact, Temenos’ corporate banking customers benefit from an end-to-end solution and a single platform for the entire Trade Finance value chain.

Temenos provides the winning combination of the broadest banking functionality with the most advanced cloud technology to over 3,000 financial institutions around the world. Temenos MarketPlace allows banks to leverage leading fintech solutions, which complement Temenos software. Solutions are curated and pre-integrated for rapid implementation and time-to-value. Today, Temenos MarketPlace providers deliver innovative solutions that enhance Temenos’ technology, enabling Temenos clients to pursue their journey of differentiation and innovation.

essDOCS’ CargoDocs solution enables users to digitally prepare, manage, sign, legally transfer and e-present trade documentation in a secure and auditable platform powered by automation. CargoDocs eliminates traditional paper-based processes, connecting all trade finance value chain stakeholders (such as issuing banks, advising banks, importers and exporters) through a centralized digital platform. All documents and processes managed by the platform fully conform with eUCP and eURC regulations.

Alexander Goulandris, Co-CEO, essDOCS, commented:

“We are delighted to partner with Temenos to assist its customers in further digitizing and automating their trade and trade finance processes. essDOCS allows Temenos clients to provide an enhanced digital trade finance offering and experience to corporate customers, while both banks and corporates alike benefit from major operational efficiencies and savings achieved through our solution.”

Jenny Alexandrou, Senior Product Manager – Trade Finance, Temenos, added:

“We are very pleased to welcome essDOCS into Temenos MarketPlace to complement our already established trade finance offering. With the integration of the essDOCS platform into Temenos Transact for our trade finance clients, we can help financial institutions further improve their current processes, reducing the number of days that trade documents take to reach advising and issuing banks, and thereby facilitating faster presentation and payment.”