Business Wire

DIGITAL-VAULT-SERVICES

Share
Digital Vault Services GmbH launches its market solution for Digital Guarantees

Digital Vault Services GmbH (www.digitalvaultservices.com ) is pleased today to announce the launch of Guarantee Vault, its solution for digital guarantees which went live on the 18 January 2021.

Guarantee Vault is a central register for the issuance and safe keeping of digital guarantees. It gives banks & sureties the possibility to centrally issue and store instruments such as Bank Guarantees, Surety Bonds and Standby Letters of Credit in an electronic form.

Sven Matzelsberger, Head of Treasury at Lindner Group KG stated “Guarantee Vault has been a true market collaboration between corporates, sureties and banks. Our shared experiences, collaborative spirit and common vision are at the heart and soul of what Guarantee Vault is.

We proudly see this as a true market initiative, one that solves a wide spread common problem and brings efficiencies to all involved.“

Guarantee Vault is the result of a 2 year collaboration with 16 working group partners made up of major corporates, banks and sureties including Bayerische Landesbank , BNP Paribas, HSBC, Atradius Kreditversicherung, Coface, Euler Hermes, GlobalTrade Corporation, Nokia, PORR AG, Lindner Group KG, Eurovia, Strabag and Siemens AG.

Guarantee Vault offers the unique combination of central issuance with digital guarantees, an innovation that delivers significant value to all market participants. Through the transparency it brings, Guarantee Vault adds an additional layer of efficiency right throughout the guarantee life-cycle .

Brigitte Schmidt, Head of Guarantees at Bayerische Landesbank explained “It has been a great experience working with both corporate and financial stakeholders on the digitization of guarantees.

Through Guarantee Vault we now have the possibility to offer all our customers the issuance, safe keeping and administration of digital guarantees in a secure and central place.

For the first time, the complete end-to-end digitization of the entire guarantee transaction is possible, from applicant and issuer right through to beneficiary.”

Guarantee Vault offers long-term, secure and cost-effective services to applicants, guarantors, beneficiaries and intermediaries right across the life of a guarantee including application, issuance and post-issuance (amendment, release, claim).

Delivering its service via its suite of REST APIs , Guarantee Vault allows market participants the possibility to seamlessly connect and benefit via their existing platforms, portals or other “in-house” systems.

Nicole Kerndler, Deputy Head of Bank Guarantee Management at PORR AG, added “For many years the lack of transparency in the Guarantee process has been an on-going problem for us. Because of this, managing our portfolio of outstanding guarantees across all our banking and surety partners has been a significant challenge. Through the added transparency it brings, Guarantee Vault gives us today oversight at source which solves the problem”.

Oliver Jacobs, Head of Bond Production at Euler Hermes said “Running a paper based manual guarantee process has always been a challenge, even more so in this Covid-19 environment. We believe that digital guarantees are the solution, they increase transparency, create efficiencies and minimize risk. The innovation that Guarantee Vault brings will benefit all parties including applicants, guarantors and beneficiaries”.

In the end Guarantee Vault is an open solution that allows market participants to save costs, improve efficiency, reduce operational risks and more.

“This is a first universal digital network that connects corporates with all types of guarantee issuers: banks, insurance companies, agents as well as export development and other government agencies. It also directly links corporates with each other, as applicants and beneficiaries. The Guarantee Vault offering is based on open collaboration and transparent pricing. This approach facilitates acceptance by providers of trade finance IT solutions – one of the key elements for the wider market adoption.” noted Nick Pachnev, CEO of GlobalTrade Corporation.

“We are extremely excited and proud about the launch of Guarantee Vault, the achievements made to date have been great and would not have been possible without the help and support of our working group members.

Guarantee Vault is an idea born from the market for the market, it is fully geared to fundamentally resolve long standing market pain points. A testament to this is the market interest we have had to date, in addition to our working group members, we already have a number of other corporates, sureties and banks expressing strong interest.

We are excited about our plans for 2021 and are well positioned for our initial roll-out into Europe starting with Germany and Austria followed by France and Switzerland in Q4.” stated Ludger Janßen, Managing Director Digital Vault Services GmbH.

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Access Advance Welcomes Global Technology Leaders as Licensees and Licensors to New Video Distribution Patent Pool2.7.2025 02:00:00 CEST | Press release

Access Advance LLC ("Advance") today announced the inaugural roster of licensees and licensors for its Video Distribution Patent ("VDP") Pool, marking a significant milestone in the program's rapid market adoption since its January announcement. The participation of major global companies heavily involved in video codec technology demonstrates strong industry support for the comprehensive licensing solution covering HEVC, VVC, VP9, and AV1 codecs. The VDP Pool has successfully attracted a group of licensees/licensors including ByteDance, Kuaishou, NTT Docomo, and Tencent. This represents the beginning of what Access Advance expects to be widespread adoption among content streaming providers seeking simplified codec licensing. The licensees’ participation provides immediate access to the wide-ranging patent portfolio while benefiting from the fixed tiered pricing structure designed to scale with business size. "We're pleased to welcome ByteDance, Kuaishou, NTT Docomo and Tencent as our

Intralot S.A. to Acquire Bally’s International Interactive Business in a Transaction that Creates a Global Gaming Technology and Services Company in Lottery and Digital Online Gaming Markets1.7.2025 21:10:00 CEST | Press release

Intralot S.A. to Remain Listed on the Athens Stock ExchangeTransaction Enterprise Value of €2.7 Billion Intralot S.A. (ATSE: INLOT) (“Intralot”) and Bally’s Corporation (NYSE: BALY) (“Bally’s”) today announced that their respective Boards of Directors approved their entry into a definitive transaction agreement (“Transaction Agreement”) pursuant to which Intralot will acquire Bally’s International Interactive business (the “International Interactive Business”) in a cash-and-shares transaction that values the International Interactive Business at an enterprise value of €2.7 billion (the “Transaction”). The consideration for the acquisition of the International Interactive Business will comprise a combination of cash paid by Intralot and newly issued shares delivered by Intralot to Bally’s, as more specifically detailed below. As part of the Transaction, Intralot expects to refinance part of its existing debt facilities and Bally’s also expects to repay secured debt from the cash proceed

Valeo Foods Group Acquires Melegatti Cakes Expanding the Italian Bakery Portfolio1.7.2025 18:21:00 CEST | Press release

Valeo Foods Group, one of Europe’s leading producers of quality sweets, treats and snacks, has successfully acquired the assets of an Italian panettone, pandoro and croissant producer, Melegatti 1894 S.p.A.This acquisition is another step forward in Valeo Foods Groups’ strategy to expand its baked sweet treats portfolio, and reinforces Valeo’s commitment to bringing authentic Italian confections and established regional brands to a wider international audience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702677156/en/ Melegatti Founded in 1894 in Verona, Melegatti has a strong reputation for artisanal cakes - particularly pandoro, panettone and filled croissants - traditional recipes, and a rich Italian heritage, Melegatti has a proud legacy founded on family values, craftsmanship, and a passion for quality. “We are excited to welcome Melegatti into the Valeo Foods Group,” said Ronald Kers, Group CEO. “This acquisition

PUMA and Borussia Dortmund Extend Partnership1.7.2025 18:18:00 CEST | Press release

Sports company PUMA has extended its long-standing partnership with Borussia Dortmund, and will continue to create products that cater to BVB’s many passionate fans around the world and match the club’s dynamic, fast paced style of football. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250701775493/en/ Sports company PUMA has extended its long-standing partnership with Borussia Dortmund, and will continue to create products that cater to BVB’s many passionate fans around the world and match the club’s dynamic, fast paced style of football. Since the start of their partnership in the 2012/13 season, BVB has celebrated many successes, such as reaching the finals of the 2012/13 and 2023/24 UEFA Champions League and winning the 2016/17 and 2020/21 German DFB Cup. The club is currently participating in the FIFA Club World Cup, where it has already reached the round of 16. BVB continues to set the standard in European football w

Gogo Galileo HDX Coming to Cessna Citation Jet Models1.7.2025 17:00:00 CEST | Press release

Expected FAA Supplemental Type Certification in late 2025 Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced Gogo Galileo HDX will be available for aftermarket installation on Cessna Citation jets after Federal Aviation Administration (FAA) Supplemental Type Certification (STC) expected in late 2025. The global Low Earth Orbit (LEO) solution allows customers to enjoy one of the best possible in-flight connectivity and aviation experiences, no matter where their journey takes them. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250701750049/en/ Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced Gogo Galileo HDX will be available for aftermarket installation on Cessna Citation jets after Federal Aviation Administration (FAA) Supplemental Type Certification (STC) expected in late 2025. (Photo: Textron Aviation) By offering Gogo Galileo HDX as an aftermarket upgrade, the Textron Av

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye