Search results for letters of credit
Crypto
American Airlines surprised by efficiency gains after adopting Ripple solution
American Airlines said operational efficiency improved more than expected after adopting Ripple\'s enterprise finance solution, Ripple Treasury. The carrier said it unified previously dispersed finance management tasks on a single platform, increasing cash visibility and automation and allowing staff to focus on other priorities. It reported global cash visibility rose from about 65 to 99 and automated accounting from about 50 to 90, saving up to 20 percent of finance team time.
Finance
Woori Bank launches 18.4 trillion won emergency financial support program amid Middle East uncertainty
Woori Bank said on Tuesday it is launching an emergency management financial support program worth 18.4 trillion won to minimise financial market volatility and real-economy impacts stemming from uncertainty in the Middle East. The bank plans 18.3 trillion won for companies, including liquidity and export-import support, and about 100 billion won for individuals and financially vulnerable groups. It will also run a foreign-exchange counselling team and strengthen risk monitoring.
Finance
KB Kookmin Bank strengthens financial support for exporters and importers
KB Kookmin Bank said on Sunday it will expand the scope of its foreign-currency loans and step up foreign exchange-related support to help stabilise management at export-import companies. It has been operating a foreign-currency working capital loan for exporters since March 18, with limits set within the past year’s export performance. It is also providing forex financing support for firms facing difficulties due to geopolitical risks in the Middle East, including fee reductions and preferential exchange rates.