BBK Introduces New Trade Finance Digital Solutions

17 Oct 2023

Bank of Bahrain and Kuwait (BBK), Bahrain’s pioneer in retail and commercial banking, has announced the launch of a new trade finance banking channel solution, Galileo Trade-Portal-as-a-Service (Galileo TPaaS) in partnership with Bolero International, a leading cloud-based trade finance fintech company based in the United Kingdom.

This innovative solution is designed to empower BBK’s small, medium, and large corporate customers to conduct traditional trade transactions more efficiently, intelligently, and securely, leveraging global best practices in structured communication and SWIFT-compliant processes.

“The launch of this new trade finance solution is a testament to our commitment to upholding our position as leaders in offering financial services to the business sector. We aim to assist companies across diverse industries in their endeavors for growth, expansion, and goal achievement. This launch underscores BBK’s standing as the most advanced, adaptable, and trustworthy banking partner in the field of corporate banking.” stated Dr. AbdulRahman Saif, BBK’s Group Chief Executive.

“We are thrilled to be partnering with Bolero to offer our corporate clients a seamless digital experience for their trade finance operations.  With this new digital solution, we can achieve an accelerated time-to-market and significantly optimize our deployment costs compared to other traditional trade finance solutions. Galileo TPaaS avails a simple and powerful front-end solution to serve our trade customers, hence we are confident that this collaboration will be very positive in fulfilling the trade digitalization vision of the Bank” he concluded.

“Securing BBK as a prominent client in the Gulf region is a truly exceptional achievement, underscoring a momentous milestone on our remarkable journey of continuous growth and success” added Andrew Raymond, Managing Director at Bolero.

“Our aim is to simplify what was once considered a complex endeavor, particularly when compared to straightforward cash transactions. With this partnership, we will work closely with BBK to deliver the most intuitive and superior digital experience to its customers. This collaboration is a testament to BBK’s confidence and trust in Bolero’s ability to deliver a reliable, innovative, and contemporary digital trade channel. Our goal is to offer the finest user experience and to scale up digital adoption at lightning speed.”