17 January 2024
BBVA joins the Komgo network and continues fostering Trade Finance digitization
BBVA has joined Komgo, the world’s largest multi-bank trade finance network, to help digitalization of its international clients, enhancing their communication processes with BBVA and achieving greater efficiency in their trade finance operations.
Clients are now able to reach BBVA through Komgo and digitally handle their trade finance activities, such as guarantees or letters of credit.
This partnership allows BBVA to continue fostering companies’ international expansion and to continue adding digital solutions for trade finance activities, such as the launching of its Global Trade Finance Portal that BBVA carried out this year.
“Managing Trade Finance activities involves complex processes for our clients, where digital technologies are the necessary levers for transforming the way corporates and other players interact” explained Francisco Fernández de Trocóniz, Head of Global Trade & International Banking at BBVA. “Joining Komgo helps our clients simplify their trade finance needs, standardizing their communications with BBVA.”
Souleïma Baddi, CEO of Komgo, celebrates: "We're proud to welcome BBVA to the Komgo network. This collaboration underscores our shared commitment to simplify and streamline trade finance. Together, we aim to create a more efficient, transparent and secure trade landscape for businesses worldwide."
BBVA connection to Komgo is an additional step in BBVA’s digitization strategy, which has led BBVA to be a reference in this spectrum, as shown by its recent award as the best digital bank for Spanish businesses.