Kyriba joins the DNI Initiative – the industry’s leading MLETR community

Despite global consensus on the importance of converting the paper-based Trade business into a digital format, there’s a bold contrast between the steps already taken by some regulators to accept the digital Trade instruments as enforceable documents, and others who are still relatively lagging behind.
In light of the latest progressive actions taken by Abu Dhabi Global Markets, Singapore, the British parliament, as well as the French government and Germany to adopt electronic trade documents, Kyriba, out of its leadership position, is pleased to announce their interest in collaborating with ITFA through its Fintech committee to support its trade finance digitisation and MLETR adoption in different markets around the world.
Amr El Haddad, CEEMEA Working Capital Head and ITFA Middle East Board Member explains the decision: “Such collaboration reflects our strategy to support our customers in paperless tomorrow. The question is no longer why a digital instrument, nor when to legally accommodate for those instruments, it’s the how and the who, and the answer for both is: using a trusted digital platform.”
“I am very proud to welcome the leading SaaS treasury and working capital platform to the DNI Initiative. The alignment of policy and technology developments offers new opportunities for banks as corporates want to ease the handling of negotiable instruments such as promissory notesbills of exchange and logistics documents.”, says André Casterman, Chair Fintech Committee, ITFA who warmly welcomes the new member.
He added: “Kyriba is joining the leading community of experts rolling out MLETR-compliant technologies and innovations. Kyriba’s role supporting digital negotiable instruments will hugely benefit banks and corporates.”
The DNI Initiative is one of ITFA’s strategic market initiatives which has established the most specialised community of technology providers, law firms, financial institutions, and policy stakeholders committed to digitise trade flows as per UNCITRAL MLETR-compatible laws and ITFA’s dDOC specifications. Reach out to André Casterman, Chair Fintech Committee, ITFA for enquiries on membership to ITFA’s DNI Initiative.

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