A. General Information

1. Title

DNI Initiative

2. Implementation period of the project/service:
4. Geographical coverage
5. Participating agencies/entities of the project/service:
a. Development stage
Lead agencies/entities
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)
7. Business process category of the service
Commercial Transactions
Forwarding and cargo handling

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

19. Electronic message standard
19A. Electronic message standard supporting the service
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
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