DBS, Contour expand trade finance offerings to four Asia Pacific markets

DBS was the primary Singaporean financial institution to hitch Contour's community.

DBS has expanded its choices on Contour’s commerce finance community to company purchasers in Singapore, China, Hong Kong and Australia, an announcement learn.

DBS was the primary Singapore-based financial institution to hitch Contour’s beta community and accomplished the primary absolutely digital letter of credit score (LC) transaction on the platform final yr.

The financial institution has now moved from Contour’s beta community to its manufacturing community to supply streamlined digital LC transactions for patrons throughout the 4 markets.

Additionally primarily based in Singapore, Contour and its financial institution companions work collectively in an effort to digitise international commerce. Constructed on R3’s Corda, Contour’s community focuses on digitising paper-based commerce finance processes, together with the creation, trade, approval and issuance of LCs.