Commerzbank: Executes live transactions on Marco Polo trade finance network
- Commerzbank is the leading bank for the German Mittelstand and a strong partner for around 30,000 corporate client groups
- Joined with İşbank and LBBW to become one of the first banks to execute commercial transactions with German and Turkish corporate client
- The purpose of these transactions was to establish an irrevocable payment commitment to the supplier
- With these live transactions, bank reached a key milestone in the run-up to the market launch of Marco Polo Payment Commitment
- The data required to establish the payment commitments for both transactions was exchanged in a digital format
- The first cross-border transaction took place on 10 May 2021, in cooperation with İşbank
