Digital Vault Services GmbH launches its market solution for Digital Guarantees
Summary
Sven Matzelsberger, Head of Treasury at Lindner Group KG stated “Guarantee Vault has been a true market collaboration between corporates, sureties and banks. We proudly see this as a true market initiative, one that solves a wide spread common problem and brings efficiencies to all involved.“ Guarantee Vault is the result of a 2 year collaboration with 16 working group partners made up of major corporates, banks and sureties including Bayerische Landesbank , BNP Paribas, HSBC, Atradius Kreditversicherung, Coface, Euler Hermes, GlobalTrade Corporation, Nokia, PORR AG, Lindner Group KG, Eurovia, Strabag and Siemens AG. Delivering its service via its suite of REST APIs, Guarantee Vault allows market participants the possibility to seamlessly connect and benefit via their existing platforms, portals or other “in-house” systems. This approach facilitates acceptance by providers of trade finance IT solutions – one of the key elements for the wider market adoption.” noted Nick Pachnev, CEO of GlobalTrade Corporation. We are excited about our plans for 2021 and are well positioned for our initial roll-out into Europe starting with Germany and Austria followed by France and Switzerland in Q4.” stated Ludger Janßen, Managing Director Digital Vault Services GmbH.