Usyncro and BBVA collaborates
THE BLOCKCHAIN AND IA PLATFORM THAT SYNCHRONIZES SYNCHRONIZES ALL ACTORS IN THE SUPPLY CHAIN
BBVA AND USYNCRO COLLABORATE TO PROMOTE THE DIGITALIZATION OF INTERNATIONAL TRADE
Madrid, February 22, 2022.- BBVA and Usyncro have reached a collaboration agreement that allows the bank’s client companies to have access to this Blockchain solution. This will help them to boost their foreign trade and internationalization.
Usyncro has been one of the start-ups selected to go through the Fast Tracks process in 2021. BBVA connected with 200 start-ups around the world to identify opportunities for collaboration, executing 20 proof-of-concepts and pilots. Usyncro went through this process, which allows to streamline decision-making in projects with third parties, reaching the integration of its products and services that are already available on the BBVA website.
The Usyncro cloud solution digitizes global trade logistics by coordinating the actors involved in the supply chain and validating procedures through the use of Blockchain technology and Artificial Intelligence.
BBVA provides its customers with access to Usyncro from its website in order to improve international shipments of goods by reducing the number of formalities and inefficiencies. Errors that, according to data from the United Nations, have an impact on 20 percent of the costs associated with transportation.
The use of Usyncro allows the coordination and digitization of logistics operations (export, customs, warehouses, modes of transport, etc.). From the platform, the user digitizes their processes simply and quickly. The solution, hosted in the cloud 24/7, centralizes management and stores documentation, giving visibility to all the actors involved. The documentation is traceable, secure and validated by the users themselves thanks to Blockchain technology.
This collaboration helps companies to reduce their costs and environmental impact, thanks to the digitization of their procedures, the elimination of paper and inefficiencies.
Another of the advantages provided by the platform is the automation and optimization of tasks through the application of artificial intelligence, as well as the creation, modification of files and uploading of documents via “Smart Contracts”. In addition, it identifies and extracts data from unstructured documents and recognizes tariff codes (HS), detecting an inaccurate description of the goods with up to 90 percent success rate.
Usyncro has the ability to generate electronic documents (eBL, eCMR, etc.); pre-process customs requirements in advance and incorporate external services such as freight forwarding, financing or insurance. Usyncro also offers a traceability service including air cargo, mail or containers. Among the agencies connected on the platform is the Tax Agency.
“We have managed to bring digitalization closer to all players in the supply chain and, specifically, to SMEs by creating an affordable and user-friendly platform”, says Cristina Martín Lorenzo, CEO of Usyncro. “We bring together all the agents at a global level, being able to assign different roles and access permissions to make shipments visible and streamline procedures by involving all those involved in the same file without additional costs.”