๐ข Siemens ๐๐, in collaboration with HSBC, has successfully completed the first ๐๐ฎ๐ฅ๐ฅ๐ฒ ๐๐ข๐ ๐ข๐ญ๐๐ฅ, ๐๐ง๐-๐ญ๐จ-๐๐ง๐ ๐ข๐ง๐๐ข๐ซ๐๐๐ญ ๐ ๐ฎ๐๐ซ๐๐ง๐ญ๐๐ โ a significant milestone in the ongoing digitalization of trade finance.
The transaction was processed via ๐๐ฎ๐๐ซ๐๐ง๐ญ๐๐ ๐๐๐ฎ๐ฅ๐ญ, marking a ๐ฌ๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฏ๐๐ง๐๐ ๐ข๐ง ๐ญ๐ก๐ย ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐ฆ๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐จ๐ ๐๐ซ๐จ๐ฌ๐ฌ-๐๐จ๐ซ๐๐๐ซ ๐ ๐ฎ๐๐ซ๐๐ง๐ญ๐๐ ๐ฉ๐ซ๐จ๐๐๐ฌ๐ฌ๐๐ฌ.ย ๐๐
The local guarantee was issued by HSBC ๐
๐ซ๐๐ง๐๐ and secured through a counter-guarantee by HSBC ๐๐ฎ๐ฌ๐ฌ๐๐ฅ๐๐จ๐ซ๐ on behalf Siemens ๐.๐., ๐๐ฉ๐๐ข๐ง. The entire process was handled fully digital.
Gerhard Heubeck, Global Head Trade Finance Advisory at Siemens AG stated: โAt Siemens, we leverage innovative technologies to continually enhance the reliability and responsiveness of our financial processes. The fully electronic execution of this guarantee enables us to replace paper-based workflows with modern, efficient processes, ensuring smoother and faster handling at the highest quality standards.โ
Olaf Haferkorn, Senior Sales Lead Global Banking at HSBC, added:โWeโre pleased to support Siemens in this important step. By issuing locally in Spain through HSBCโs international network and using a secure digital infrastructure, weโve demonstrated how cross-border trade finance can become faster, more transparent, and better aligned with our clientsโ operational needs.”
๐๐๐ฏ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐๐ฒ ๐๐จ๐ซ ๐๐๐๐ฅ๐๐๐ฅ๐ ๐๐ข๐ ๐ข๐ญ๐๐ฅ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐ซ๐๐๐ ๐
๐ข๐ง๐๐ง๐๐
This transaction marks a key step toward the broader ๐๐๐จ๐ฉ๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐ ๐ฎ๐๐ซ๐๐ง๐ญ๐๐๐ฌ in ๐๐ฎ๐ซ๐จ๐ฉ๐๐๐ง and ๐ข๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ markets. It demonstrates how corporates, financial institutions, and fintechs can collaborate to develop and implement ๐ฌ๐๐๐ฅ๐๐๐ฅ๐, ๐๐จ๐ฆ๐ฉ๐ฅ๐ข๐๐ง๐ญ, ๐๐ง๐ ๐๐ฎ๐ญ๐ฎ๐ซ๐-๐ฉ๐ซ๐จ๐จ๐ย solutions for critical financial instruments.