PORR Group Digitizes Their Guarantee Business with Guarantee Vault – Austrian and International Guarantors Ready
As one of the leading construction firms in Europe, PORR AG digitizes their guarantee business with the Guarantee Vault Platform from Digital Vault Services GmbH (DVS), combined with the multibank-solution @GlobalTrade from GlobalTrade Corporation (GTC). The company already requested their first digital guarantees and the broad roll-out has started.
"As part of our future programme PORR 2025 we seek to strengthen our technology leadership further and develop digital solutions for the construction value chain as well as new, data-based business models. With Guarantee Vault and @GlobalTrade we can fully digitize our guarantee business – from the internal approval process up to the full guarantee life-cycle. The combination of both systems allows a seamless integration into existing systems and therefore is a big win in efficiency. We will step-by-step transfer our complete guarantee business to Guarantee Vault," said Alfred Gabler, Head of Group Treasury at PORR AG.
The cooperation between DVS and GTC allows GTC customers fully digital processing for their national and international guarantees. While @GlobalTrade digitizes all internal guarantee processes, Guarantee Vault completes this offer with a fully digital request procedure, fully digital end-to-end guarantee management as well as safekeeping. From applicant via guarantor to the beneficiary, all parties are equally involved in the process and all operations can be processed and monitored in real-time.
"Guarantee Vault supplements our existing (guarantee-)services over the entire validity period with digital delivery of the guarantee up to final release. On request, all these features can be used by our customers without additional technical efforts as our @GlobalTrade platform is directly connected to the Guarantee Vault. The high level of interest from our customers confirms that cooperation with DVS was the perfect next step. Together we would like to set a new standard for digital guarantees in the Guarantee Vault. We’re looking forward to our ongoing cooperation." – Olga Schwarzkopf, Head of Business Development, Global Trade Corporation.
Regardless of that, beneficiaries and applicants benefit more and more from the advantages of central storage via the web-interface. For example, the Österreichische Bundesbahnen (ÖBB) has set themselves the long-term goal of exclusively receiving digital guarantees via Guarantee Vault. Wolfgang Konrad, Head of Risk- & Treasury Management, ÖBB: "At the moment we still receive many physical guarantees and manage them fully manually. Our vision is to receive as many guarantees as possible digitally. Not only, however especially for us as beneficiaries, we see big advantages in improving our efficiency as well as lowering our process risks."
Andreas Nestler, Head of Treasury, STRABAG, adds: "Especially for us as a company headquartered in Austria, it’s important to have a variety of local banks available. As member of the Working Group we also fully trust in the advantages of the Guarantee Vault and want to finish our API connection by 2022 at the latest."
Raiffeisen Bank International as well as Raiffeisenlandesbank Oberösterreich are already active users, and Erste Group is actively involved in the further development of Guarantee Vault and is in final review for technical implementation. Internationally, Guarantee Vault is implemented already by banks and sureties in Germany, Sweden and Finland, among others.
Big sureties like Euler Hermes, Coface and Atradius are also already available as guarantors or will be available very soon. "To immediately offer and kick-off digital guarantees for our customers, we use the web-interface at the time being. For a seamless integration in our existing processes, we are connecting our backend-system to the Guarantee Vault in parallel. This will allow us to fully exploit the efficiencies of digital guarantees in the future and to offer our customers a new service," explains Oliver Jacobs, Head of Bond Production, Euler Hermes.
Matthias Öffner, Chapter Lead Trade & Export Finance, Bayerische Landesbank, one of the first Guarantee Vault users, summarizes: "With Guarantee Vault, we offer our customers in the guarantee business a digital interface to BayernLB. For us as guarantors, this results in advantages in terms of avoiding manual process steps and the resulting operational risks. But we are particularly convinced that with Guarantee Vault we are supporting our customers, the applicants and beneficiaries. Through the multi-guarantor approach, they benefit from high efficiency gains, a complete overview of their guarantee portfolio and simpler processes."
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
For more information please contact:
PR & Marketing Manager
Digital Vault Services GmbH, München
Telefon: +49 151 23204007
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
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
Ipsen Strengthens Its Pre-clinical Oncology Pipeline With an Exclusive Worldwide-collaboration With BAKX Therapeutics Inc. for BKX-001, Targeting the Apoptosis Pathway27.7.2021 19:01:00 CEST | Press release
Regulatory News: Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) and BAKX Therapeutics Inc. have signed an exclusive worldwide-collaboration agreement to research, develop, manufacture and commercialize BKX-001 as a potential treatment for leukemia, lymphoma and solid tumors. Apoptosis is the naturally occurring process of programmed cell death. Deregulated apoptosis can lead to uncontrolled cell division and the development of a tumor.2 The apoptosis cell-signaling pathway has been proven to be a target for cancer therapy with the development and approval of BCL-2 inhibitors for the treatment of certain hematological malignancies.3 BAX is a novel target in this pathway that is downstream of all anti-apoptotic proteins like BCL-2, BCL-XL, MCL-1 etc.4 Direct activation of BAX has several possible outcomes as an investigational cancer therapy, potentially addressing multiple tumor types and the resistance encountered while target
Daikin Industries Becomes OCSiAl Shareholder27.7.2021 18:55:00 CEST | Press release
Japanese giant Daikin Industries, Ltd, has become a shareholder of the world’s largest producer of graphene nanotubes, OCSiAl, following three years of collaboration in developing graphene nanotube applications as a next-generation additive. Together, the companies are determined to develop high-performance materials and establish new markets. The signing of a share subscription agreement between Daikin Industries, a world-leading air conditioning company and a pioneer in fluorine technologies, and OCSiAl, the world’s largest producer of graphene nanotubes and related industrial solutions, was supported by prior joint developments and market evaluation. In accordance with the terms of the agreement, the valuation of OCSiAl is about USD $2 billion. Along with the subscription agreement, the two companies have signed a cooperation agreement to develop, produce, and market graphene nanotube solutions for next-generation Li-ion batteries and fluoropolymers, which comprise a substantial par
V.E, part of Moody’s ESG Solutions, provides Second Party Opinion on Colombia’s Sovereign Green Bond Framework and Inaugural Issuance27.7.2021 17:58:00 CEST | Press release
V.E, part of Moody’s ESG Solutions, published today a Second Party Opinion (SPO) on Colombia’s Sovereign Green Bond Framework and inaugural issuance. The SPO assesses four main components: the framework’s level of contribution to sustainability, its alignment with international standards, its coherence with Colombia’s strategic sustainability priorities, and Colombia’s environmental, social and governance (ESG) performance. “Proceeds from the green instruments issued under Colombia’s framework will provide a ‘robust’ contribution to sustainability, the second-highest level on our four-point scale,” said Adriana Cruz Felix, Head of Sustainable Finance Research at V.E. “The issuance will fund projects to protect biodiversity as well as build climate change resilience and adaptation, thereby reinforcing the capacity of Colombia’s institutions to address key environmental challenges.” In V.E’s opinion, the framework and portfolio of eligible expenditures are aligned with the four core comp
DYSIS Announces New Compact and Portable Colposcope Design with Computer-Aided Cervical Mapping27.7.2021 17:30:00 CEST | Press release
DYSIS Medical Inc. is excited to announce the launch of DYSIS® View, a compact and portable colposcope, which includes the company’s innovative computer-aided cervical mapping technology that helps healthcare professionals detect cervical lesions more clearly. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210727005846/en/ DYSIS View | Computer-Aided Colposcopy with Cervical Mapping (Photo: Business Wire) The DYSIS family of colposcopes include the novel DYSISmap, which is a color-coded summary of the acetowhitening effect of the patient’s cervix. Colors are allocated on the map depending on the acetowhitening changes measured by DYSIS during the examination. This data helps healthcare professionals improve biopsy selection. In the IMPROVE-COLPO study, when map-assisted biopsies were added to colposcopy exams, detection of patients with CIN2+ increased by 44%1. “We are thrilled to bring DYSIS View to market to complement our
Exchanger Industries Limited Acquires HRS Heat Exchangers27.7.2021 17:00:00 CEST | Press release
Exchanger Industries Limited (“EIL”), the Canadian market leader and globally recognized designer and manufacturer of heat transfer products for the energy, petrochemical, industrial and clean power generation sectors, has acquired HRS Heat Exchangers Ltd. ("HRS"). Financial terms were not disclosed. HRS is widely recognized as the pre-eminent, international specialist supplier of heat exchangers and custom process systems across the environmental, food, beverage, and pharmaceutical sectors. The seasoned HRS management team will be retained by EIL and play a critical role in executing plans for robust international expansion afforded by the strategic combination of two distinct, yet complementary industry leaders. “For decades, we’ve worked hard on behalf of our customers in Canada, the U.S. and 25 countries worldwide, consistently providing them with mission-critical, innovative solutions in some of the most demanding environments,” stated Mark el Baroudi, EIL’s CEO. “The HRS acquisit
Quanergy’s 3D LiDAR Helps Waste Incineration Plant Optimize Recycling Process and Reduce Environmental Impact in China27.7.2021 16:18:00 CEST | Press release
Quanergy Systems, Inc., a leading provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT, today announced a new smart LiDAR deployment automating waste plant operations, to ensure process efficiency and minimize the environmental impact of a waste-to-energy incineration plant in China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210727005789/en/ Quanergy’s 3D LiDAR Helps Waste Incineration Plant Optimize Recycling Process and Reduce Environmental Impact in China (Graphic: Business Wire) Deployed in collaboration with Hunan University, one of China’s top engineering research universities, and Hunan Qiaokang Bridge Health Intelligent Technology for Puxiang Bioenergy, Quanergy’s high accuracy M-Series 3D LiDAR sensors were applied to scan the surface of the waste piles at the incineration plant and create a 3D point cloud image, to accurately calculate the volume of the waste. The LiDAR
Andersen Global Enhances Gambian Foothold with Payce Consulting27.7.2021 15:30:00 CEST | Press release
Andersen Global continues its Africa expansion with the addition of collaborating firm Payce Consulting, adding dimension to the organization’s existing presence in The Gambia. Payce Consulting, founded in 2014 by Partner Paul Gaye, serves the public and private sectors at the local and international level including financial institutions, education, industrial and commerce, transportation, fish processing and export, hotel and leisure, seaport, energy, agriculture, information technology and government agencies. The tax and advisory firm provides corporate finance, business advisory, business structuring and insolvency, outsourcing, financial services and portfolio management services to clients. “Our client-focused approach, extensive industry knowledge and commitment to best-in-class service have allowed us to develop and maintain strong client relationships,” Paul said. “Our collaboration with Andersen Global is the next step for our firm as we look to provide our clients with the