Trade finance operational efficiency is unquestionably inhibited by the predominance of paper documents, manual processes, and the complex regulator-driven standards that need to be upheld. The extent of data required paired with the manual document-checking process and compliance requirements means that companies and banks put up with inefficient and ineffective processes.
The Co-Pilot for your Trade finance Operations
1 / Automated OCR and Data Extraction
These documents can include, but are not limited to, SWIFT messages, bills of lading, invoices, etc. We work directly with our customers to ensure that the A.I. works best for their industry and region.
2 / Running trade finance commercial document checks
The checks and criteria are determined by rulesets such as UCP 600 and our customers, who know best what they need to find in a set of trade documents.
3 / An audit trail of everything screened against Sanctions and DUG lists.
Each check's status (pass, questionable, escalate) are presented in less than a minute, highlighting all the information on the exact document that needs personal attention. No more going through endless irrelevant pages. The one piece of data you need will be presented to you in a matter of seconds.
“Complidata has developed and is implementing a state-of-the-art automated document examination system - TradeSpeed - to ease the burden of the high-risk and time-consuming process of manual examination of Letters of Credit.”
Gary Collyer, Chairman of drafting groups for the UCP 600, Trade Finance Consultant and Trainer