Trio of banks offers online trade finance

Trade finance processing is an arduous, time consuming, and paper intensive process for both the financing bank and company. A new venture headed by three banks may just lighten the load.

Elaine Leong

August 25, 2000

Australian and New Zealand Banking Group Ltd (ANZ), Barclays Plc and the Bank of Montreal have agreed to form a new venture that will take their existing trade finance services online. In addition, the new venture will target third party banks globally that wish to outsource their trade finance processing.

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