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Kaitlyn Rabach named SMC’s outstanding senior

first_imgCourtesy of Gwen O’Brien In sixth grade, Kaitlyn Rabach decided she wanted to attend Saint Mary’s. Since then, Rabach has remained devoted to the College, and the Alumnae Association Board of Directors named her this year’s Outstanding Senior. (Editor’s note: Rabach served as Saint Mary’s Editor for The Observer from 2013-2014.)Recipients of this award display values of scholarship and leadership, according to Director of Media Relations Gwen O’Brien.“As the valedictorian represents the mind, and the Lumen Christi Award recipient reflects the soul, the Outstanding Senior embodies the heart of the graduating class at Saint Mary’s,” O’Brien said.Rabach, a political science major with minors in global studies as well as gender and women’s studies, said Saint Mary’s granted her unique opportunities such as working with women from around the world to implement change in their communities.“Saint Mary’s has taught me that helping women is really important and that raising up women is really important,” Rabach said. “The president of my college is a woman. That doesn’t happen everywhere.”Rabach’s devotion to women’s leadership is evident through her social justice work, according to her political science professor Sonalini Sapra, who nominated her for the honor. She said Rabach worked well with 20 college students from five countries during the study of the United States Institute (SUSI) on Global Women’s Leadership in 2012 and 2013.“I was the lead faculty for that institute and got to see firsthand the great intercultural leadership and sensitivity demonstrated by Kaitlyn,” Sapra said. “She showed maturity well beyond her years.”Rabach has also raised awareness about contemporary slavery by founding Saint Mary’s College New Abolitionists, Sapra said. Her passion for seeking justice and promoting women’s education make Rabach the best choice for Outstanding Senior, Sapra said.“She challenges everyone around her to always think carefully about what they read and say and pushes others to do their best work,” Sapra said. “She’s a truly gifted, deeply serious and morally decent human being whom I’m proud to have as a student. I can’t think of anyone I know who deserves this award more than she does.”Rabach said she plans to move to London in May to pursue a master’s degree in social anthropology. She credited her Saint Mary’s education with giving her the ability to pursue the move.“Saint Mary’s has given me the confidence to feel like I can tackle anything that comes my way,” she said. “Saint Mary’s gave me the tools to tackle all the barriers and obstacles in my way with a positive attitude, and that’s something I’m really thankful for.”Rabach said she appreciates fellow leaders within the Saint Mary’s community.“I think that the heart of Saint Mary’s is centered on social justice and advocacy, and every day I am surrounded by so many of my peers doing such great work in the Saint Mary’s community and the South Bend community and really at the world at large,” Rabach said. “To be recognized for the social justice work that I’ve been doing here on campus is truly honoring and humbling.”Tags: Commencement 2015, Kaitlyn Rabach, Outstanding senior awardlast_img read more

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Credit unions invited to take some Disney magic back to the office this fall

first_imgWe all know Disney. For nearly a century, they’ve been the masters of creating magic for children and adults around the world, from a certain mouse that most of us grew up with to today’s larger-than-life superhero flicks. But before they became an international icon, Walt and Roy Disney first had to master the art of business, and they didn’t need any magic to do it. They took business concepts we all know – leadership, culture, service, brand and innovation – and approached them holistically until they’d come up with a human experience that would truly feel like magic.So what better place for credit union technology and operations teams to come together and discover ways to give our members a taste of that magic? This fall’s co-located CUNA Technology Council Conference and CUNA Operations, Sales and Service Council Conference will take up residence for four days at the Walt Disney World Dolphin Resort in Orlando, right in the heart of Disney.“Our conference committee has been excited since we heard the conference was going to be in Orlando,” commented Greg Inman, Chair of the CUNA Operations, Sales and Service Council Conference. “We’ve gotten feedback over the past several years that our attendees want an event on the east coast, so we hope there will be a lot of council members that are excited about this year’s location being not only near the water, but at the Dolphin Resort near Disney World.”This year’s conference isn’t taking its venue for granted; its on-site experience will be brimming with high-impact events and opportunities, including a behind-the-scenes tour of Disney, innovative speed round sessions, Filene’s new “Crashers” program and non-stop networking with peers from both the operations and technology fields.The Business Behind the MagicBefore this year’s conference officially starts, attendees will have a rare opportunity to go behind the scenes and explore how, at the end of the day, Disney’s ‘magic’ is really just perceptive business insights and time-tested methodologies operationalized to deliver truly a great customer experience. During this 3-hour pre-conference tour, attendees will dive into concepts from the professional development courses offered by Disney Institute and see how they come to life each day at the Walt Disney World® Resort.Mike Atkins, Chair of the CUNA Technology Council Conference, plans on attending the tour himself. “Personally, every time I get an opportunity to go backstage with a large organization and see how they do what they do, I’m in,” he remarked. “Disney is all about creating magic, and we have a chance to see how they do that. Inevitably, it will give us insights into how we can apply what we see into our own organizations. So I’m excited to see how Disney delivers on their magic.”Atkins’ fellow tour attendees will have the opportunity explore a number of the park’s operations, including Textile Services, Epcot® Cast Services, Main Street, U.S.A.® and the “Utilidor” system – the support systems beneath the Magic Kingdom® Park designed to improve the experiences of the park’s cast members and guests alike. Disney Institute core competencies will be illustrated throughout the tour, along with quantitative examples of how each area successfully implements those concepts.“They’ve got a whole tunnel network!” Atkins continued. “People appear in different places, and as a guest, you’re left in awe, wondering how they manage that – I’m convinced the procedures and tech behind it all will be really interesting.”From Buzzwords to Blue AngelsWe work in a fast-paced industry, and in order to keep up, we’re often guilty of condensing complex, high-impact concepts and ideas into short phrases and ‘buzzwords’. But when someone starts throwing around terms like “Big Data,” what does that really mean for our credit unions and our industry? This year’s conference is putting a notable emphasis on breakout sessions and panels – especially those that will allow attendees to take a step back, work from the ground up and break down those buzzwords that have made their way into our everyday rhetoric.Kicking it all off is keynoter John Foley, former lead solo pilot for the Blue Angels. He will walk attendees through why the Blue Angels, the Navy’s elite exhibition flying team, are in the highest tier of pilots, how they get there, how they stay there, and how as attendees, we can translate those secrets into our teams. “Think about what this guy did for a living,” commented Atkins. “You talk about working as a team, understanding how to trust your teammates, understanding respect… Mr. Foley’s going to talk about how we can apply that trust to our teams on a day to day basis. He’s a high energy speaker and he’ll be a great kickoff for us.”Foley’s keynote will be followed up by an exciting lineup of speakers and keynoters presenting on immediately applicable topics that matter to our industry right now, including Theresa Payton, identity theft expert and former White House CIO, and Jim Knight, author of Culture That Rocks! and former Hard Rock International Executive.“Theresa Payton is going to really focus on the cybersecurity aspect, and I think her comments will be a wake up call for some, while allowing others to feel founded in their damage prevention and asset control efforts. And Jim Knight – here we’ve got a guy who’s an expert in culture, especially attracting and retaining talent. His insights will be really valuable and will be especially helpful to us techies in figuring out how to use culture to retain a competitive advantage,” continued Aktins.Speed RoundsCUNA Councils are aware that an event with so many companies and providers on-site often means attendees are forced to pick, choose and potentially miss out on opportunities for face-to-face meetings – and they’ve come up with a solution. This conference offers a number of speed round sessions, during which financially-focused technology companies will demonstrate their latest innovations and products in quick succession, so that attendees know which companies they definitely shouldn’t miss out on connecting with further before the conference ends.“This is your opportunity to see fifteen-to-twenty of the newest innovations in your industry in a such short period of time,” claimed Atkins. “And that’s what the speed rounds are all about. You can choose one area you want to make a play in and really jumpstart that effort by seeing who the big names are and who’s making the significant moves in those areas.”This year’s speed rounds will also include some Operations, Sales and Service sponsors to bring both disciplines together in this action-oriented event.Credit Union “Crashers”The co-located conference has also introduced a brand new scholarship opportunity for young credit union professionals. The Cooperative Trust brought to you by Filene, “Crashers” program aims to recruit, retain and develop young credit union professionals by providing opportunities that wouldn’t normally be available to non-executives. Following the program’s success at the CUNA Governmental Affairs Conference in March, Filene will grant Crash scholarships to six individuals from the operations, sales and service discipline and six from technology.Recipients of these Crash scholarships will receive conference registration, travel and housing credits, allowing them to attend Council events while taking part in a completely separate schedule that will cultivate their professional development and growth. Their schedule will involve tailored breakout sessions and workshops which allow the ‘crashers’ to broaden their knowledge of the credit union industry and potentially complete a side project while on-site.Two Conferences in OneEvery year, this conference gathers thousands of executives from credit unions nationwide and across two expansive disciplines. That creates an unprecedented amount of networking opportunities among peers, speakers, sponsors and industry experts alike. So it should come as no shock that attendees tend to leave with a multitude of new ideas and takeaways to implement as soon as they return to the office.“It’s interesting to get to do this with the Operations, Sales and Service guys,” said Atkins on the topic of the co-located conferences. “It works really well with the topics and ideas we’re addressing this year. If IT isn’t working closely with Operations, Sales and Service, we’re not doing our jobs. We support operations, and the more closely we work with them, the better our jobs will get done.”The topics and ideas to which Atkins refers will be on the metaphorical conference table for three days, ready for attendees to voice their opinions, bounce ideas off one another and come across new insights in a risk free environment. All of this creative collaboration culminates in well-crafted solutions and options for how to pursue objectives back at our credit unions, not to mention a feeling of confidence in how to proceed in our roles.“We pack as much as we possibly can into the conference agenda to give our attendees great value for their investment,” Inman concluded. “At the end of the day, you are exhausted, but full of ideas and information that can help you. I can’t think of another place where someone can capture so much content and share so many ideas in such a short period of time.”Contributing author Greg Inman is the senior vice president of Neighbors Federal Credit Union in Baton Rouge, LA. He has also served as the lending protection manager for CUNA Mutual Group, where he was named a President’s Council winner in 2005 and 2006. He is on the advisory board of LSU University College and currently serves as vice chair of the CUNA Operations, Sales and Service Council Executive Committee. 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Mike Atkins Mike Atkins is the chief information officer of Bellco Credit Union and chair of the CUNA Technology Council Executive Committee. Web: www.bellco.org Detailslast_img read more

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Credit union surveys

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Credit union member surveys should integrate for a comprehensive picture of the member experience, incorporating each of the various loyalty components. This big picture includes four main areas:How did we do? Did the credit union and its staff do what we promised to do? Was it easy to accomplish? Did you have to call us multiple times for the same issue? Are you happy?Future growth opportunities: How likely is it you will increase your participation with the credit union? Net Promoter Score is the best indicator of this, and the most successful companies focus on increasing the number of promoters.Gauge loyalty: All seven components (see sidebar) of loyalty must be accounted for.How can we improve? What specifically can we do to be better?The trend for many credit unions has been to decrease member survey activity, which is opposite of what should happen. If the concern is survey fatigue, the credit union should thoroughly review its surveys to determine what should change. All surveys should be delivered electronically, which is the easiest way for the member to respond. continue reading »last_img read more

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Is marketing an essential function in credit unions during the COVID-19 crisis?

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Denise Wymore Denise started her credit union career over 30 years ago as a Teller for Pacific NW Federal Credit Union in Portland, Oregon. She moved up and around the org. chart … Web: www.nacuso.org Details I’ve been around a long time and remember vividly this very question being asked in preparation for Y2K. The answer then was “No, it’s not essential if the world ends when the clock strikes midnight on 12/31/99.” At the time, I was VP of Marketing for First Tech Credit Union, so you can imagine how delighted I was when virtually NOTHING happened.Now we’re in an unthinkable situation. A global pandemic that has literally shut down our economy over night. We did not have months to prepare as was the case with Y2K. There was no dress rehearsal, nothing in the business plan that said “In case of a global pandemic….” and so we are “punting” for the most part.So what’s a marketer to do? There is an amazing opportunity here to literally question everything we do.I’ve been watching four credit unions in the Portland, Oregon market. I used to work at two of them and had an account at another, so I know a bit about their culture, leadership, etc.In case you haven’t noticed, it’s NOT business as usual. Your website should reflect that, almost honor it in a way. If you’re still pushing the same products and services that all your competitors do, dig deep and figure out a way to stand out.Tip #1: If you are involved in your community, put that front and center, not buried in the ABOUT US section. Most credit unions are great at getting involved in their community when there is NOT a crisis. Brag about that.Tip #2: What is the overall “tone” of your website. Look at your stock art. Does it reflect your membership? Your community? Your values or mission? Or, did you just do what practically every other credit union on the planet did and grab the shiniest, happiest, prettiest people smiling at all the stages of their imaginary lives? Now is the time to tell YOUR story and embrace YOUR roots in the community.  Reread the copy, does it reflect the new way of doing business? Or merely “suggest” members try out our mobile options?Tip #3: DO NOT take this opportunity to steal members from other financial institutions. One of the Portland CUs I’ve been monitoring is offering $200 to switch financial institutions. The fine print says they have to open a checking account, the kind where you have to make 12 debit card transactions per month, sign up for e-statements and access online banking at least once per month. In addition, you also have to qualify for a credit card and you have to have a job. The worst part about this campaign is the VIDEO on the page that shows a young man and woman on the beach embracing while he spins her around (in slow motion). Seriously? The landing page is a young beautiful black woman jumping up in the air while 100 dollar bills float around her. This is offensive.Tip #4: DO NOT be dishonest. Let me explain. A credit union marketer called me and told me she wasn’t quite sure how to word a campaign she was asked to launch. It’s a refinance auto loan promotion. BUT, she admitted that the underwriting is not going to change and they are very conservative, so how does she say “Um, you aren’t going to qualify if you don’t have a job or have reduced income…”Tip #5: Make yourself essential. Forget the rules. Offer to go through an accelerated teller training class and take shifts on the front line. Find the other pain points in the organization and offer to cross train and pitch in.Tip #6: Marketers could take on a new role and be the center for daily communication with remote employees. Kind of like a daily newsletter and we know how to have fun, so please have some fun too.It’s not about “marketing” it’s about being aware, getting creative, paying attention and being compassionate.last_img read more

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Fed Chair Powell discusses monetary policy framework, future during Jackson Hole speech

first_imgFederal Reserve Chair Jerome Powell, in a webcast speech Thursday at the Federal Open Market Committee’s (FOMC) annual retreat in Jackson Hole, Wyo., discussed the results of the Fed’s first-ever public review of its monetary policy framework and its newly released statement on longer-run goals and monetary policy strategy.As a result of the review, Powell announced the FOMC’s adoption of “a flexible form of average inflation targeting.” Under the new framework, following a period where inflation falls below the committee’s 2 percent objective, “appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time.”“The committee’s shift towards an average inflation target means we can expect the zero-rate policy to last even longer  as the economy works its way out of this recession,” said NAFCU Chief Economist and Vice President of Research Curt Long.Powell indicated that the Fed began the year-long review in efforts to assess monetary policy strategy, tools, and communications efforts that would “best foster achievement of our congressionally assigned goals of maximum employment and price stability over the years ahead in service to the American people.” ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

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Some troops got anthrax shots after judge banned them

first_img The Department of Defense (DoD) said that 931 people were “mistakenly vaccinated” after US District Judge Emmet G. Sullivan ordered the program stopped on Oct 27, 2004, according to a Feb 1 Associated Press report. The story said 150 service members were vaccinated in January. DoD officials said this week that with the emergency order in hand, they will ask Sullivan to lift the injunction against the vaccination program. But they said it could take several weeks for the judge to issue a decision. About 1.2 million DoD and contractor personnel have received anthrax shots since the vaccination program began in 1998. Almost 500 service members have refused to take the vaccine, and more than 100 have been court-martialed for their refusal, the Post reported yesterday. Feb 3, 2005 (CIDRAP News) – The US military gave anthrax shots to more than 900 soldiers after a federal judge ordered a halt to the mandatory vaccination program last October, according to news reports this week. See also: In a lawsuit brought by six service members and civilian defense workers, Sullivan ruled that the Food and Drug Administration had not followed proper procedures in approving the use of anthrax vaccine adsorbed for inahalational anthrax. The FDA recently issued an emergency order to allow DoD to resume the vaccination program because of what the Pentagon believes is an increased risk of anthrax attacks on US forces. The order says that troops must be allowed to refuse the shots without facing any penalties. The story said Col. Steven P. Jones, director of the military vaccine agency, told Sullivan that he ordered the removal of all remaining anthrax vaccine doses from military clinics after he learned that some vaccinations were continuing. Feb 2, 2005, CIDRAP News story “FDA issues emergency order on military anthrax shots” http://www.cidrap.umn.edu/cidrap/content/bt/anthrax/news/feb0205anthrax.html DoD officials told Sullivan yesterday that the shots were given even though Defense Secretary Donald Rumsfeld had called a halt to them after the court ruling, according to a Washington Post report today. Previous CIDRAP News stories on the situation are available at:http://www.cidrap.umn.edu/cidrap/content/bt/anthrax/news/index.htmllast_img read more

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The law of Plato

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

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Virus curfew to be lifted in Australia as global deaths near a million

first_imgIt was a different story in the UK, now battling to contain a mounting second wave, as thousands marched in London on Saturday against coronavirus restrictions.At least 10 people were arrested as police moved in with batons to disperse more than 10,000 protesters gathered in Trafalgar Square.This week Prime Minister Boris Johnson’s government imposed a ban on gatherings of more than six people and ordered pubs and restaurants to close at 10 pm in a bid to slow the spread of the virus, which has claimed 42,000 lives in the country so far — making it the worst-affected nation in Europe.In New York state — once the epicenter of the US outbreak — new infections rose for the first time since June to above 1,000 a day, local officials said.In India, meanwhile, infections closed in on six million on Sunday as Prime Minister Narendra Modi called on people to keep wearing face masks in public.”They are potent tools to save the life of every citizen,” he said.Health ministry figures showed that the total number of cases had risen to 5,992,532.India is expected to take over the United States — which has reported more than seven million cases so far — as the worst-hit country in the next few weeks.In Paris, a limited number of spectators will watch live tennis for the first time in months as the French Open starts — four months later than scheduled.It will be an eerily unfamiliar tournament as a resurgence of the virus means only 1,000 spectators will be allowed into the grounds each day.For residents of Wuhan, where the coronavirus first emerged late last year, life is already back to normal.There have been 50,340 confirmed cases and 3,869 deaths in Wuhan, according to the official figures — the majority of mainland China’s toll — but no new infections since May.Families are once again packing amusement parks, and shopping streets were full over the weekend — although residents remained cautious.”The people have experienced tragedy and deeply know that a happy life is not easy to come by,” said a woman named Wang.  In Australia, Victoria Premier Daniel Andrews said Melbourne residents would be free from Monday to leave their homes for work, exercise, shop for essentials, or provide care after active cases in the state fell below 400 for the first time since June 30.The relaxation of the curfew, imposed August 2, comes after 16 new infections and two deaths were reported Sunday.People will still be confined to within five kilometers of their homes, and fines for breaching other restrictions will be increased to almost Aus$5,000 (US$3,515).Andrews said several other restrictions, including on religious services and childcare centers, will also be lifted.  An overnight curfew in Australia’s second-largest city will be lifted this week, officials said Sunday, even as the global coronavirus toll inched towards one million dead.Despite the number of infections worldwide passing 32 million — with the US state of New York reporting a fresh spike — more than 10,000 anti-lockdown protesters demonstrated in central London ahead of the re-imposition of restrictions there.In more positive news, residents of the Chinese city of Wuhan — where the virus emerged last year — reported a hesitant return to normalcy, while the French Open got underway at Roland Garros in Paris.center_img Topics :last_img read more

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Crystal Palace boss Roy Hodgson confirms Arsenal’s bid for Wilfried Zaha is ‘nowhere near’ enough

first_img 1 min. story Read More Video Settings Coming Next About Connatix V67539 Top articles SPONSORED Rio Ferdinand tells Ole Gunnar Solskjaer to drop struggling PLAY Read More Full Screen Advertisement Read More AdvertisementAdvertisement‘I don’t think Arsenal have actually made a bid that has come anywhere near our valuation,’ said Hodgson on Tuesday evening after Palace’s friendly with Barnet.‘I’m sure the player realises that if someone’s going to take him away from us, he’ll expect clubs to pay the market value.‘Until someone does that, there’s not much to discuss regarding Wilf.’Palace suffered a heavy 6-2 defeat in Tuesday night’s friendly with Barnet, although Zaha was not involved in the contest.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityIt appears that Arsenal are ready to move on from Zaha and look at a cheaper option in Gremio and Brazil forward Everton Soares.The Gunners have sent a club medic to Brazil to assess the 23-year-old who impressed at the recent Copa America for Brazil, scoring three goals as his country won the competition on home soil.Gremio are thought to want £36m for their striker, but this could be paid over more than one installment, making Everton are far more affordable choice than Zaha.Arsenal boss Unai Emery told reporters that the club is being patient in the market, working with new technical director Edu.”The club is working. We are speaking every day with the club and Edu,’ Emery explained.‘I prefer to work with patience and calm and take the best decision.‘We have very good players, very young good players. We need someone to help us. The club is working on that.‘We prefer to take the best decision with patience. If we need to wait more time for this reason I prefer to do that.’MORE: Arsenal ‘send club medic to check out Everton Soares’ as £36m deal edges closerMORE: Arsenal director Josh Kroenke makes bleak trophy admission after fans question the club’s direction Wilfried Zaha is looking less likely to move to Arsenal (Picture: MB Media/Getty Images)Crystal Palace manager Roy Hodgson has confirmed that Arsenal have failed to make a bid ‘anywhere near’ the Eagles’ valuation of Wilfried Zaha.The Gunners are thought to have offered Palace £40m for the Ivory Coast international, and also included the option of three players to sweeten the deal.However, the Eagles are holding out for closer to £80m for their star man and will not be letting him go for half that price.With no further bids being lodged for the 26-year-old, he posted a cryptic message on social media on Monday which read, ‘Life goes on.’ADVERTISEMENT Read More 1/1 Comment Now his manager at Selhurst Park, Hodgson, has confirmed that unless any offer for the winger significantly improves, then he will be staying where he is. Crystal Palace boss Roy Hodgson confirms Arsenal’s bid for Wilfried Zaha is ‘nowhere near’ enough Phil HaighTuesday 16 Jul 2019 11:51 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link98Shares Skip Read More Manchester United captain Harry Maguire / by Metro Skip Ad Visit Advertiser website GO TO PAGE Advertisementlast_img read more

Read More Crystal Palace boss Roy Hodgson confirms Arsenal’s bid for Wilfried Zaha is ‘nowhere near’ enough

PIL Trials Delivery Using IBM Blockchain Platform

first_imgSingapore’s shipping company Pacific International Lines (PIL) has used an electronic bill of lading (e-BL) built on the IBM Blockchain Platform in a successful real-time pilot tracking shipment of mandarin oranges from China to Singapore.With the use of IBM Blockchain powered e-BL, the trial has produced a significant reduction in the administrative process of transferring the title deed from five to seven days to just one second, according to PIL.As explained, this is significant because the bill of lading is one of the most crucial documents used in international trade, typically issued by a shipping carrier to document the title or ownership of goods. It also functions as a receipt of goods and a contract of the shipment.Combining e-BL with blockchain technology promises to help companies reduce their document processing times to almost zero, with an instantaneous digital transfer of the bill of lading for their cargo. Document handling is automated, and goods delivered more quickly and efficiently, PIL said.The live trial follows the e-BL Proof of Concept which was announced in October 2018. PIL and IBM collaborated to digitize the lifecycle of negotiable and non-negotiable bills of lading on top of distributed ledger technology.“We are pleased with the steady progress of our blockchain collaboration with IBM. To-date, we have received very positive feedback from the industry and authorities, and we are enthused by the possibilities of how our blockchain developments can transform and inject a much-needed boost in efficiency and innovation into the industry,” Lisa Teo, Executive Director of PIL, commented.“A blockchain-based trade network will be a game-changer, and we have a great opportunity here with our partner PIL to revolutionize the documentation processes in a way that benefits the entire industry. Powered by blockchain, the e-BL developed by the IBM Research Singapore will be critical in helping to establish an extensible ecosystem for trade, thus expectedly enhancing trade efficiency and building trusted trade relationships among the industry players,” Harriet Green, CEO and Chairman of IBM Asia Pacific, said.The e-BL platform gives various ecosystem players the convenience to manage a bill of lading digitally with accuracy and speed, including banks.A similar trial from Singapore to Brunei has taken place for negotiable e-BL with key stakeholders participating including Bank of China Limited Singapore Branch (BOC). The negotiable e-BL network establishes an extensible ecosystem which facilitates trade transactions and settlements, as the process of issuing letter of credit and guarantee is enhanced.Image Courtesy: PILlast_img read more

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