A. General Information

1. Title

DNI Initiative

2. Status of the project/service
3. Implementation period of the project/service:
5. Geographical coverage
6. 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)
7. Main stakeholders/beneficiaries of the project/services
Traders (big enterprises)
Traders (SMEs)
8. Business process category of the project/service
Commercial Transactions
Forwarding and cargo handling

B. Lessons Learned

9. Summary description of the project/service
a. Objective(s)

To digitise negotiable instruments as per MLETR

b. Business need for the project/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
10. Documents and data exchanged via the project/service

Bill of exchange, promissory note, bill of lading, warehouse receipt, ... (all included in MLETR scope)

11. Data models/databases, proprietary solutions, hybrid approaches

Integrating e-original technologies such as Enigio's trace:original

12. Main challenges faced during the project/service

Adapting national laws to MLETR

13. Lessons learned from the project/service

Slow bank adoption

14. Main benefit(s) of the project/service
Transaction Cost savings* -- rate: 85%
Transaction Time savings
Simplified process
Increased trade flow
14A. Elaborations/detailed description on benefits gained:

Early adopter Lloyds Bank on digital promissory note (August 2022)

15. Technical/financial/capacity building/other assistance

Enigio, Finastra, China Systems, Surecomp, ... are all engaged in the DNI Initiative.

16. Future plan for expansion of the project and service
17. Other information or relevant references on the project and service
18. Relevant document regarding the project/service

C. Relevant Standards

20. Electronic message standard
20A. Electronic message standard supporting the project/service:
20B. Type of standard for electronic message applied for the project/service
Industry-specific standard
ITFA dDOC specifications
21. Technical communication standard
21A. Technical communication standard supporting the project/service
21B. Type of technical communication standard applied for the project/service
Proprietary solution
Proprietary solution was applied because:
- No relevant international standard
22. Security-related standards*
22A. Security-related standard supporting the project/service
Payload (message) encryption (text security)
Digital signatures
22B. Type of security-related standard applied for the project/service
International standard
Industry-specific standard
23. Other Technical Information
23A. Interface developed for data exchange with an internal system
23B. Other technical implementation information