Announcement - WaveBL

Federal Bank and WaveBL have forged a strategic partnership, marking a groundbreaking milestone in global trade finance. This collaboration aims to streamline trade finance processes, offering customers a seamless and efficient service that ultimately saves time and cost.

 

Federal Bank and WaveBL are proud to announce the successful completion of the first-ever single-bank digital export collection bill transaction in India. WAVE BL provides an innovative blockchain-based business technology solution that enables the transfer of all trade documents digitally while maintaining the uniqueness and originality of documents.

 

The cooperation with WAVE BL is in line with the Federal Bank strategy, as it will enhance its digital innovative capabilities in the market .The digitalization also entirely eliminates the risk of forgery, loss and theft of paper versions and aligns with Environmental, Social, and Governance (ESG) principles by reducing paper consumption and carbon emissions associated with courier services.