Banks
Banks and Financial Institutions currently take significant time verifying and validating documents submitted to them by different stakeholders. The digitalization process enhances the security and verifiability of these crucial documents, minimizing the risk of fraud and forgery and facilitating faster document clearances reducing transaction costs and improving the efficiency of the letter of the credit process. Further, the traceability of digital documents also simplifies the compliance process, making digitalization an attractive proposition for these institutions.
