CaixaBank from Spain and Československá obchodní banka (ČSOB) from the Czech Republic make new digital trade corridors using smart contracts for their clients, to offer on the we.trade platform. we.trade has seen many live with existing member banks and has seen a notable increase of clients availing of BPU and BPU financing products to help build more trust and trade between buyers and sellers.
The international digital trade transaction was made between PT Polimer’s Tecnic, specialists in the manufacturing and supply of plastics and composites in Spain, and a leading exporter of plastic sheets from the Czech Republic!
Joaquim Aliu — CEO PT Polimer Tecnic
"Thanks to we.trade we have been able to buy products above the amount that credit insurers grant to our company without increasing our administrative burden.
The we.trade platform allows us to close those commercial deals incorporating a bank guarantee in a very agile manner, as it allows the supplier to anticipate the funds simply and quickly.
At the same time, it is easy to monotonize intuitively all purchase orders in due course and is especially interesting for recurring purchase orders"
“At Caixabank we have been able to offer an innovative solution that exceeds PT Polimer’s needs. As we know, digital transformation is extremely important in today’s society as a whole, so for CaixaBank to be able to further support our customers with adopting new technologies and providing our clients with a unique value proposition, enables them to grow their business domestically and internationally.
We must be able to offer new solutions throughout the pandemic, and this has only enhanced Caixabank’s relationship with our clients. we.trade offers enhanced security in payments avoiding fraud, and builds trust between buyers and sellers all thanks to we.trade’s digital smart contracts. we.trade helps to create an agile and collaborative business atmosphere, in line with our corporate values.”
explains Mercè Matarín in Caixabank’s Trade Finance department.
“In ČSOB we are acutely aware of the impact the pandemic has had on everyone and particularly in the Czech Republic! Our clients are having challenges with reduced or no availability of credit insurance. This is having a serious impact on their trade volumes and revenues.
Fortunately, during the pandemic, ČSOB launched the we.trade digital platform to offer an alternative credit line for our SME and corporate clients and as a way to further reduce the risk of fraud and delayed or non-payment. In this context we.trade has become one of the most valuable and crucial sales tools for our clients.
Today we are proud, thanks to we.trade, that we can continue to further support and serve our clients. Our client's overall satisfaction with we.trade means we are seeing repeat business on the we.trade platform with seeing an increased interest from more and more clients every day wanting to join the we.trade platform.”
says Tomáš Perger, we.trade Sales and Product Manager in ČSOB.