Bolero, the online platform for electronic transactions, has announced the commercial availability of the latest version of its Multi-Bank Dashboard.

The dashboard is a web-based application utilising the Bolero Multi-Bank channel now endorsed by several corporates and their banks.

Visibility and detail

According to Bolero, its dashboard adds value to corporates who need overall visibility of their import and export letters of credit (L/Cs) and guarantees and ease of access to these instruments.

The dashboard monitors and manages L/Cs and guarantees through their entire lifecycle. As well as providing a picture of a corporate's L/C and guarantees position, it provides facilities to drill down to levels of detail and take immediate actions or respond to alerts.

Advanced amendments

Bolero says one of the key additions to the dashboard is an advanced amendment management capability, which it claims is particularly important for corporates dealing with L/Cs subject to multiple amendments over time.

The dashboard's capabilities include acceptance and rejection of amendments, history and status as well as control and confirmation of the current 'operative instrument' - the L/C that is transmitted by telecommunication and represents the functional L/C.

This according to Bolero significantly reduces the effort and discrepancy risk associated with amendments and provides both corporate and bank with the same view of the current status of the amended L/C.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.