Barclays has announced plans to roll out a new global trade finance platform.

As part of the move, the bank is integrating CGI’s global trade finance solution with a multi-bank trade finance platform from Komgo.

The move will mean that its corporate clients currently using the Komgo platform will be able to access a fully automated workflow for transactions that flow to Barclays.

The new platform is designed to provide the British multinational with more transparency, increased transaction speed, reduced manual entry, and lower operating risk.

Through the collaboration, Barclays aims to "set a new standard" in trade finance digitisation by reducing manual processes and meeting demand for real-time, digital-first tools.

“Our corporate clients increasingly expect seamless, digital-first solutions for their global trade finance needs,” said Jaya Vohra, managing director, global head of trade & working capital, Barclays.

He said that by integrating the two solutions, the bank will be able to provide its customers with a "fully digital experience" while simplifying operations processing.

“This is a crucial step in our ongoing commitment to digitalising trade and providing faster, more efficient solutions,” continued Vohra.

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