Bladex ties up with Swiss Trade Finance Platform Komgo

By Gloria Methri

Bladex, or Banco Latinoamericano de Comercio Exterior, has entered a strategic alliance with Swiss FinTech Komgo. Bladex said it is the first bank in Latin America to join the Komgo platform, which enables companies to send authenticated messages and conduct transactions.

The bank said the partnership will increase Bladex’s capabilities to foster foreign trade in the region as many of its existing clients and partners already use Komgo.

This is the first of a network of alliances Bladex plans to develop with select FinTechs and trade finance specialists, to fulfill the needs of participants in the supply chain.

Jorge Salas, CEO of Bladex stated that “the bank is building its strategic plan on a unique business model that will benefit from a series of critical alliances, such as the one with Komgo, which aims to promote financing solutions for foreign trade through new technologies that adapt to clients’ needs and boost the business.”   

“Through this alliance, Bladex intends to promote new products and financing structures, increase its customer base, achieve operational and efficiency improvements, as well as further strengthen the security of transactions through the capabilities offered by new technologies.”

Several transactions negotiated on Komgo have already been concluded, facilitating business in a safer, and more efficient way, where each of the platform participants can exchange authenticated messages within the framework of either plain vanilla or structured trade finance transactions.

Souleïma Baddi, CEO of Komgo, said, “Bladex’s involvement brings yet another layer of trust to our digital network and opens a key market for our corporate users. We are delighted to support Bladex and its customers in their digital transformation journeys.”