A. General Information
1. Title
DNI Initiative
2. Implementation period of the project/service:
From
Oct-2019
To
--
4. Geographical coverage
Global
Participating countries: Switzerland
Hub Point: Switzerland
5. Participating agencies/entities of the project/service:
a. Development stage
Lead agencies/entities
ITFA
Other participating agencies/entities
ITFA member banks
b. Operational stage
Lead agencies/entities (op)
--
Other participating agencies/entities (op)
--
6. Main stakeholders/beneficiaries of the service
Traders (big enterprises)
Traders (SMEs)
Transport
7. Business process category of the service
Commercial Transactions
Forwarding and cargo handling
Transport
Payment
B. Lessons Learned
8. Summary description of the project/service
a. Objective(s)
To digitise negotiable instruments as per MLETR
b. Business need for the service (background)
Paperless trade
c. Business process covered*
Bill of exchange, promissory note, bill of lading, warehouse receipt, ... (all included in MLETR scope)
d. Overall architecture and functionalities*
To digitise interoperable e-original documents
e. Relevant document/figure
--
9. Documents and data exchanged via the service
Bill of exchange, promissory note, bill of lading, warehouse receipt, ... (all included in MLETR scope)
10. Data models/databases, proprietary solutions, hybrid approaches
Integrating e-original technologies such as Enigio's trace:original
11. Main challenges faced during the service
Adapting national laws to MLETR
12. Lessons learned from the service
Slow bank adoption
13. Main benefit(s) of the service
Transaction Cost savings* -- rate: 85%
Transaction Time savings
Simplified process
Increased trade flow
13A. Elaborations/detailed description on benefits gained
Early adopter Lloyds Bank on digital promissory note (August 2022)
14. Technical/financial/capacity building/other assistance
Enigio, Finastra, China Systems, Surecomp, ... are all engaged in the DNI Initiative.
15. Future plan for expansion of the service
--
16. Other information or relevant references on the service
--
17. Relevant document regarding the service
--
C. Relevant Standards
18. Name(s) of any international, national legal instrument underpinning the service
Bill of exchange, promissory note, bill of lading, warehouse receipt, ... (all included in MLETR scope)
19. Electronic message standard
19A. Electronic message standard supporting the service
XML
19B. Type of standard for electronic message applied for the service
Industry-specific standard
ITFA dDOC specifications
20. Technical communication standard
20A. Technical communication standard supporting the service
HTTP, FTP
20B. Type of technical communication standard applied for the service
Proprietary solution
Proprietary solution was applied because:
- No relevant international standard
21. Security-related standards*
21A. Security-related standard supporting the service
Payload (message) encryption (text security)
Digital signatures
21B. Type of security-related standard applied for the service
International standard
Industry-specific standard
22. Other Technical Information
22A. Interface developed for data exchange with an internal system
--
22B. Other technical implementation information
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