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DBS, OCBC take trade finance into the digital age

OCBC's Melvyn Low says complete digitalisation of the banker's guarantee process from start to end is a "milestone" for the trade industry's digital transformation


TWO Singapore banks have ramped up efforts to boost efficiency in trade finance, an old trillion-dollar industry that until recently had been predominantly based on paper documents.

DBS Bank and OCBC Bank on Monday both issued their first electronic banker's guarantee on...