Recently, Bank of China received the prize of “Highly Commended, Deal of The Year 2012” from the British magazine Trade & Forfeiting Review, an award in acknowledgement of BOC’s “Zhejiang INSIGMA Digital Xiao Yi Da On-Line Financing” program.
Guided by the latest concept of integrating supply chain financing, bank-corporate direct system linkage and cash management, the program has successfully solved the financing difficulties for small and medium-sized enterprises downstream in the supply chain. The program allows convenient loan application, rapid lending and instant loaning and repayment. Contracted sub-dealers can apply for loans and repayment online anytime anywhere, and check the real-time financing and repayment information on INSIGMA Digital E-Commerce Platform or on BOC’s online banking system.
From client requirement analysis, product design, system development to its launch, it took 10 months to complete the program. Up to now, BOC has conducted 891 financing transactions for the sub-dealers of INSIGMA Digital through the Xiao Yi Da On-Line Financing Platform. By far, the program has seen an aggregate financed amount of RMB73.66 million and a total number of 32 new downstream clients.
Founded in 1997, Trade & Forfeiting Review is an authoritative magazine providing industry updates to trade and financing professionals worldwide.
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