Yapı Kredi has successfully completed Türkiye's first-ever fully digital document presentation under a Letter of Credit (L/C), using Enigio’s digital envelope solution.
The transaction marks the first instance in Türkiye where documents used in foreign trade were presented electronically rather than through traditional physical means.
The Letter of Credit was issued by Yapı Kredi to Lloyds to be advised to their client Chemtec UK Limited a manufacturer of specialised Proprietary Heat Transfer products and industrial equipment, with Tüpraş acting as the applicant. All required shipping documents were created entirely in a digital environment and presented electronically.
By leveraging Enigio’s digital envelope technology, the originality, reliability, and verifiability of the documents were preserved. The transition to digital presentation aims to mitigate operational risks and significantly shorten processing times in foreign trade.
Highlighting that digital document management is a critical transformation area in foreign trade, Cahit Erdoğan, Deputy General Manager of Yapı Kredi, stated:
“This letter of credit transaction carried out by our Bank is a milestone, as it represents the first time documents used in foreign trade in our country have been presented entirely digitally rather than physically. Through digital presentation, we not only provide our customers with speed, security, and efficiency but also take a major step toward digitalization in alignment with international standards. For that reason, we are proud to have pioneered this initiative, which will move our country one step forward in the global trade arena. As Yapı Kredi, we support digital transformation in every field through our efforts to expand the use of technology, we contribute to our foreign trade customers' competitiveness in global markets. With this goal in mind, we will continue to strengthen our digital foreign trade solutions in the days ahead.”
Alex Waites, Executive Director at Enigio, added:
“This transaction demonstrates that fully-digital document presentation under a Letter of Credit is not only feasible, but operational. We are proud to support Yapı Kredi in delivering a secure and compliant digital trade process that aligns with international standards and look forward to helping more customers do the same.”
This milestone represents a significant step in advancing digital trade infrastructure in Türkiye and reinforces the growing adoption of secure electronic document presentation in international trade.