Improving Financing Flow: CZ Cuts Trade Financing Processing Time with Mizrahi Tefahot Bank in the UK by 95% with WaveBL Digital Documentation

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WaveBL , CZ

23 Apr, 2025, 08:00 GMT

WILMINGTON, Del., April 23, 2025 /PRNewswire/ --

The Opportunity
As a leading supply chain services company operating in the UK, CZ, sought to streamline its trade finance operations and reduce the time-intensive processes associated with paper-based trade documentation. Traditional trade processes often involve multiple parties, high administrative costs, and lengthy timelines. This creates friction in global trade, particularly for fast-moving commodities like sugar.

The growing adoption of digital trade solutions, such as electronic Bills of Lading (eBLs), allowed CZ to embrace fully digital trade documentation, enabling faster financing, reduced costs, and greater operational efficiency.

The Solution

CZ successfully executed its first fully digital trade financing transaction using WaveBL. This milestone transaction showcased the power of end-to-end digital trade processes:

  1. Issuance of eBL: The Mediterranean Shipping Company (MSC) issued an electronic Bill of Lading (eBL) on WaveBL and transmitted it to CZ.
  2. Compilation of Supporting Documents: CZ added electronic versions of the necessary trade documents, such as invoices and letter of instructions to the bank, to the WaveBL platform.
  3. Document Submission to the Bank: CZ sent the eBL and supporting documents to Mizrahi Tefahot Bank LTD, UK via WaveBL for review and processing.
  4. Financing Approval: The bank validated the documents against compliance requirements and promptly provided financing to CZ.
  5. Document Transfer to Importer: The bank forwarded the complete set of electronic documents to the importer in Israel, ensuring a seamless and efficient transaction.

This streamlined process eliminated the need for physical documentation, saving significant time and reducing administrative burden for all parties involved. By now, CZ, fully transformed the flow and completed dozens of transactions.

The Impact

CZ experienced transformative benefits from this digital-first approach:

  • Faster Financing: Traditional transactions take several days to get to the bank, and take 15–25 days until reaching the importer. This is now completed in hours, enabling quicker access to working capital.
  • Enhanced Security: Documents were transmitted securely via WaveBL's blockchain-backed platform, mitigating risks associated with physical document loss or forgery.
  • Cost Savings: The elimination of paper documentation reduced courier costs, printing expenses, and administrative overhead.
  • Seamless Collaboration: WaveBL's platform provided a unified space for collaboration between CZ, its financial institution, and MSC, ensuring all parties remained synchronized throughout the process.

"This digitised way of working represents a turning point in how we approach trade finance. By adopting WaveBL's digital platform, we've cut processing time from weeks to hours while ensuring security and transparency at every stage. This success sets a strong foundation for leveraging digital trade documentation in future operations."
— Tanya Epshteyn, Associate Director, Head of Structured and Trade Finance, CZ

CZ's journey showcases how fully digital trade documentation can revolutionize the way businesses manage international trade. By leveraging WaveBL, CZ demonstrated the power of faster financing, reduced costs, and secure collaboration.

This success sets a benchmark for companies across industries, proving that embracing digital trade solutions is essential for staying agile, efficient, and competitive in today's global market.

The bank, Mizrahi Tefahot Ltd in the UK, by using the WaveBL platform, allows its customers access for a very efficient and friendly way to manage their trade documentation, increasing their satisfaction from the services they receive.

"The type of deals that CZ manage with their bank showcase that electronic trade is not limited to Letters of Credit and Collection but is everywhere in the Global Trade Finance arena." says Ofer Ein Bar, VP Financial Institutions at WaveBL.

"The use case of using electronic documents to shorten the preliminary processes to financing, and at the same time reduce costs with a friendly and efficient user experience is a game changer for Global Trade. It will help to resolve the huge gap of financing so needed to support the growth of global trade."

Photo - https://mma.prnewswire.com/media/2670284/WaveBL_CZ_Mizrahi.jpg

For inquiries:

Ofer Ein Bar
ofer.einbar@wavebl.com