Intellect Global Transaction, Bolero International ink pact

: Intellect Global Transaction Banking, a division of Intellect Design Arena Limited, Thursday said it has signed a pact with Bolero International to explore opportunities in commercial trade and supply chain finance business propositions.

The partnership would help eliminate inefficiency in trade transactions, city-based Intellect Design Arena said in a statement here.

"Our focus is on revenue growth, improvement in returns on equity and cost income ratios, while developing tools to help banks deal with risk and compliance issues..." the statement quoted chief executive officer of Intellect Global Transaction Banking Manish Maakan as saying.

"Our tie-up with Bolero International will capitalise on its expertise in trade digitisation to help reduce operational risk in an industry dominated by inefficiency", he said in the release.

Both firms were looking for development in digitally-led commercial trade and supply chain finance business propositions, the release said.

Chief executive officer of Bolero International Ian Kerr said in the release that "we are excited to be collaborating with Intellect Global Transaction Banking. They share our passion for practical innovation that make supply chain trade finance safer...