Finastra and CargoX Strengthen Digital Trade Documentation
Finastra has partnered with CargoX to accelerate digital trade documentation in global trade finance. Through this collaboration, both companies aim to modernize how trade documents are exchanged.
Specifically, the partnership integrates CargoX’s blockchain-secured electronic trade document (eTD) platform with Finastra’s Trade Innovation solution. As a result, financial institutions can exchange documents securely, quickly, and at scale.
Eliminating Paper-Based Inefficiencies
Traditionally, trade finance relies on paper-heavy workflows. However, these processes often cause delays, errors, and fraud risks. By contrast, this new integration enables digital-at-source documentation.
CargoX supports more than 65 types of electronic trade documents. Therefore, banks and businesses can digitize a wide range of trade transactions. In addition, the solution offers advanced encryption and full audit trails.
Consequently, institutions benefit from:
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Faster processing times
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Reduced fraud exposure
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Lower operational costs
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Improved compliance visibility
Cloud-Native and API-Driven Integration
Moreover, integration is enabled through Finastra’s open API framework and Trade Innovation Nexus. This ensures seamless connectivity with existing banking systems.
Because the solution is cloud-based, it supports scalability and real-time document exchange. At the same time, it reduces the risk of document loss, non-delivery, or physical damage.
Thus, organizations can improve operational resilience while supporting sustainability goals.
Supporting the Future of Trade Finance
Importantly, this initiative aligns with the commitment made by members of the Digital Container Shipping Association to issue bills of lading fully electronically by 2030.
By combining Finastra’s global presence with CargoX’s blockchain-secured infrastructure, the partnership accelerates industry-wide digitization. Ultimately, it helps banks and businesses transition toward a more transparent, efficient, and secure trade ecosystem.
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