DNI Initiative attracts 12 new members

The DNI Initiative has established the most specialised community of technology firms, financial institutions, corporates and additional stakeholders committed to digitise trade documents and negotiable instruments as per UNCITRAL MLETR-compatible laws.

“The DNI Initiative has demonstrated how existing technologies facilitate the roll-out of MLETR-compatible laws. Over the last 2 years, both Finastra and China Systems extensively shared their ambition in that space and provided strategic proof points through the integration of Enigio’s dDOC-compliant technology.”, explains André Casterman, Chair Fintech Committee, ITFA. “We are now concentrating on the demand side, i.e., helping corporates and trade digitisation platforms discover the benefits of digital trade instruments focusing primarily on bills of exchange, promissory notes and guarantees.”

As we enter the commercialisation phase of the DNI Initiative, we are delighted to welcome 12 institutions to the initiative: UK Export Finance, HMRC, Nokia, Emirates NBD, Lloyds Bank, SMBC, Mitigram, CargoX, Automaxis, Norex International, Coriolis Technologies and XDC Network.

Carl Williamson, Head of Trade Finance at UKEF says: “Digitisation can make trade easier and more cost effective for businesses. We are committed to making it easier for exporters to access our support. That means we need to be aware of digital innovations in the market that impact international trade. We welcome any insights this initiative can provide to move trade into the digital age, helping us improve our offer to exporters.”

Discover the full announcement here including insights from our new members.

Sean Edwards, Chair, ITFA, concludes: “ITFA takes responsibility for making electronic negotiable instruments work in the trade market, and we are committed to supporting all stakeholders in this journey with a focus on policy making and technology integration.”

Initial members of the DNI Initiative include a mix of technology, advisory and law firms: Enigio, China Systems, Finastra, Cleareye.ai, MonetaGo, Casterman Advisory, Tesselate, TAN and Sullivan & Worcester (law firm).

Please consult the DNI Initiative page for more information.