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Cleareye.ai Reinforces Strategic Collaboration with Microsoft to Enhance Trade Finance with Hybrid AI on Microsoft Azure 

Cleareye.ai Reinforces Strategic Collaboration with Microsoft to Enhance Trade Finance with Hybrid AI on Microsoft Azure

New York, USA – 9th July: Cleareye.ai, a leading provider of AI-powered document processing solutions for Trade Finance today announced a collaboration with Microsoft to use the combined power of Microsoft’s Azure AI platform and Generative AI (Gen AI) capabilities to tackle the most complex challenges within the Trade Finance industry. A Hybrid Approach for Breakthroughs: This collaboration represents a significant shift in Trade Finance automation. Cleareye.ai’s Trade Finance platform, ClearTrade®, will work together with Microsoft Azure to enhance trade finance, by delivering solutions that offer accuracy, efficiency, and security. However, the true innovation lies in our relationship’s focus on building generative AI experiences. By carefully blending the strengths of prebuilt and curated models from Azure OpenAI Service with Cleareye’s domain and technical expertise, we bring advanced and comprehensive solutions for trade finance to the market. A Symphony of Innovation: Cleareye.ai and Azure AI platform  This collaboration brings together the best of both worlds:  Azure provides Cleareye.ai with scalability, security, and access to a vast array of AI services via its platform. Azure’s robust compute, storage, and monitoring capabilities ensure seamless operation and reliable data management.  Cleareye.ai’s proprietary AI models, honed through years of experience in Trade Finance, deliver accuracy and efficiency in document processing and data extraction.  The Power of Hybrid AI:  Open and Closed Models  Cleareye.ai and Microsoft are exploring a hybrid AI approach, strategically combining the strengths of closed and open models:  Closed Models: Cleareye.ai’s pre-trained AI models, optimized for specific Trade Finance tasks, ensure consistent performance and compliance.  Open Models: Microsoft’s Azure AI platform, including Azure OpenAI Service, brings flexibility and adaptability to address the ever-evolving complexities of Trade Finance.  This hybrid approach allows Cleareye.ai to:  Tackle Complex Use Cases: By using the power of Azure AI Services Cleareye.ai can address previously intractable challenges in Trade Finance, such as nuanced document analysis and anomaly detection.  Deliver Accuracy: Cleareye.ai’s closed models ensure consistent high accuracy, while Azure OpenAI Service models continuously learn and refine, leading to ever-improving performance.  Mariya George, Co-Founder & Chief Executive Officer at Cleareye.ai says “This collaboration with Microsoft represents a paradigm shift for Trade Finance automation. By combining the power of Microsoft’s Azure AI platform with the potential of Gen AI, we are on the verge of achieving significant breakthroughs. This hybrid approach will unlock a new era of efficiency, accuracy, and innovation for the entire industry.”  Peter Hazou, Director, Business Development, Financial Services at Microsoft says “We are pleased to collaborate with Cleareye.ai to unlock the potential of AI in Trade Finance. By using the combined strengths of Microsoft’s Azure AI platform and Cleareye.ai’s expertise, we are committed to delivering a robust solution for our customers, enabling them to navigate the complex world of Trade Finance with greater confidence and agility.”  This collaboration represents a significant leap forward for Trade Finance automation. By harnessing the power of AI and the robust capabilities of the Azure AI platform, Cleareye.ai and Microsoft are poised to deliver a future-proof solution that empowers businesses to operate in a more efficient, secure, and innovative trade landscape.  About Cleareye:  Cleareye.ai is an advanced Artificial Intelligence & Machine Learning platform that enables banks to launch products at a rapid pace. Headquartered in California with offices in New York and India, the company aims to simplify banking. The platform leverages technology breakthroughs with a fully automated document processing layer, unified ML lifecycle management, data management, model governance and dynamic rules engine leveraging NLP. This will transform banks into hyper agile organizations, that customers want to bank with and deliver exceptional customer service, drive short term gains and long-term growth, and generate insights to sustain momentum at digital scale. Cleareye.ai was founded by leaders in global technology, representing decades of entrepreneurial and digital systems experience in banking. 

Cleareye.ai and Surecomp partner to enhance AI powered trade finance automation

Cleareye Blog Banner, Title is "Cleareye.ai and Surecomp partner to enhance AI powered trade finance automation." New Partnership

New York, USA, April 16, 2024: Cleareye.ai today announced a strategic partnership with Surecomp, a leading provider of digital trade finance solutions providing automation of trade compliance and operations.  Both firms are acutely aware of the challenges faced by their customers engaged in complex and time-consuming cross-border trade. This is confounded by increasingly complex regulatory requirements such as the monitoring of trade-based money laundering (TBML) putting a strain on operational capacity and rising costs.  Offering comprehensive solutions to financial institutions worldwide, the new collaboration between Surecomp and Cleareye will specifically address the need for more streamlined and readily accessible data from within trade documents.  By intelligently automating the classification of trade documents and accurately extracting and validating their data, banks can enhance trade productivity and speed. This process helps reduce risks and ensures compliance through automated checks for trade-based money laundering (TBML) and other relevant red flags. Ultimately, it increases the banks’ ability to scale and manage growing volumes of trade efficiently. “This partnership is a significant step forward in our mission to revolutionize trade finance,” said Sarath Sasikumar, President & Co-Founder, Cleareye.ai. “By combining our expertise with Surecomp, we can provide financial institutions with a powerful and comprehensive solution that empowers them to navigate the complexities of trade finance with greater efficiency and confidence.” “Banks continuously need to stay ahead of the ever-changing patterns in illegal trade behaviour. Embedding AI-based compliance checks into the trade finance transaction is a prime use case for bringing artificial intelligence to banks’ day-to-day operations,” says Enno-Burghard Weitzel, Surecomp’s Chief Solutions Officer. “As we continue building our extended value to customers through strategic fintech partnerships, we are delighted to welcome Cleareye to RIVO.”

Streamlining Trade Finance Operations: Cleareye.ai Chooses Datavolo for Multimodal Data Pipelines

Cleareye Blog Banner, Title is " Streamlining Trade Finance Operations: Cleareye.ai Chooses Datavolo for Multimodal Data Pipelines."

In the ever-evolving landscape of trade finance, digitization and compliance automation are paramount for efficiency and regulatory adherence. Enter Cleareye.ai, a pioneering force in the industry. Their digital workbench, ClearTrade®, revolutionizes trade finance operations by digitizing vast volumes of data from trade finance documents and automating checks against industry requirements such as UCP, ISBP, URC, and URDG. Additionally, their Compliance module streamlines regulatory compliance checks by automating red flag and TBML assessments. To deploy their cutting-edge technology across diverse, highly regulated customer environments, including major cloud vendors like AWS, GCP, and Azure, as well as on-premises setups, Cleareye.ai sought an enterprise-grade solution for multi-modal data capture, transformation, and continuous delivery. Recognizing the critical nature of this requirement, Cleareye.ai turned to Datavolo, powered by Apache NiFi, as their data pipeline solution of choice. Datavolo‘s extensive expertise in managing unstructured data pipelines with Apache NiFi, coupled with its latest features tailored for modern data challenges, made it the obvious choice for Cleareye.ai. With Datavolo, Cleareye.ai gains a robust and flexible data pipeline solution that meets the stringent demands of the highly regulated trade finance industry. This strategic partnership underscores Cleareye.ai’s commitment to driving digital transformation and operational excellence in trade finance, setting a new standard for efficiency and compliance in the sector. “Choosing Datavolo was an easy choice as working with their team and technology was able to 10x the speed by which we deliver new features to our customers.” said Chandrasekhar, Chief Technology Officer of Cleareye.ai.  “We work with highly regulated customers, as does Datavolo, and that expertise is invaluable.” About Cleareye.ai Cleareye.ai is an advanced Artificial Intelligence & Machine Learning platform that enables banks to launch products at a rapid pace. Headquartered in California with offices in New York, Bahrain and India, the company aims to simplify banking. The platform leverages technology breakthroughs with a fully automated document processing layer, unified ML lifecycle management, data management, model governance and dynamic rules engine leveraging NLP. This will transform banks into hyper agile organizations, that customers want to bank with and deliver exceptional customer service, drive short term gains and long-term growth, and generate insights to sustain momentum at digital scale. Cleareye.ai was founded by leaders in global technology, representing decades of entrepreneurial and digital systems experience in banking.

Future-proofing Trade Finance: The digital Transformation Journey with ClearEye

Cleareye Blog Banner, Title is "Future-proofing trade finance: The digital transformation journey with ClearEye."

Transitioning from documents to pixels, from cash to virtual payment gateways, and from local markets to international ones, the sweeping transformation of global trade into the digital world is redesigning the trade finance ecosystem. The alliance between ClearEye and J.P. Morgan represents the metamorphosis of the future of trade finance digitisation. BY MARIYA GEORGE, TOM FITZGERALD As the industry anticipates the upcoming Sibos 2023, themed ‘Collaborative finance in a fragmented world,’ TFG’s Deepesh Patel sat down with Mariya George, CEO & Co-Founder of ClearEye, and Tom Fitzgerald, J.P. Morgan’s Managing Director and Global Head of Trade and Working Capital Product Delivery. Gaining an advantage through digitalisation The journey of the trade finance industry towards digital transformation has encountered a distinct lack of momentum. With insolvencies of various fintech companies making headlines and the rapidly evolving regulatory frameworks influenced by current geopolitical events, navigating the digital landscape has proven to be a consistent challenge for the industry. Recognising the need for transformative change, ClearEye and J.P. Morgan have joined forces with a revolutionary vision for the industry: to future-proof trade finance operations. George said, “It all starts with the back-office operations. There are a lot of challenges in today’s back-office operations, including the constantly changing regulatory challenges and needs, as well as the rising costs.” George offered more information on ClearEye’s flagship platform, ClearTrade, and its robust capabilities, “ClearTrade focuses on three components: Digitisation, compliance/trade-based money laundering automation, and doc-exam operations automation.’’ Reinforcing the value of integrating ClearTrade and how the alliance bolsters J.P. Morgan’s trade finance objectives, Fitzgerald said, “Our internal business case around using this platform incorporates uplifting our compliance capabilities, reducing operational costs, and getting leverage through a partner relationship versus purely relying on in-house IT resources.’’’ Additionally, the roadmap for this collaboration aims to introduce ClearTrade to J.P. Morgan’s correspondent banking network Empowering collaborative finance through technology In today’s interconnected global economy, trade finance relies on a diverse range of stakeholders, collectively empowering international trade. The complexity of this ecosystem, combined with the numerous entities involved, highlights the importance of embracing technology to promote collaborative finance. Echoing ClearEye’s vision for technology-driven collaboration, George noted, “I don’t think there’s a better way to bring the world together than through technology.” But ClearTrade’s capabilities extend beyond transaction processing. “It’s a platform that can bring together the compliance team, the operations team to access all these external data sets that are required to do all the compliance checks,’’ she elaborated. Furthermore, consolidating compliance and trade finance operations into a single automated solution is a remarkable step towards addressing one of the most notable challenges facing trade finance operations – fragmentation. From exporters initiating transactions to banks handling cross-border exchanges, trade finance processes entail substantial lead times, typically lasting for days. ClearTrade can significantly expedite these processes. “With technology advancements,’’ George pointed out, “the lead times of trade finance processes can be reduced from days to hours. That’s a significant change.’’ The platform’s ability to automate labour-intensive manual checking processes including trade-based money laundering (TBML) verifications, holds the potential to revolutionise the pace and efficiency of trade finance operations. Additionally, the alliance has successfully addressed one of the most persistent conundrums in the digital transformation of trade finance: how to adopt technology while maintaining trust in the financial industry. This alliance demonstrates that striking a balance between the two is undoubtedly achievable. Despite the innovative nature of the collaboration, J.P. Morgan’s core principles of vendor evaluation and risk management have been integral to the alliance. “The relationships might have a slightly different contractual structure, but at the end of the day, you’re relying on a third party that needs to protect our business, our clients, and our data. The concerns, the rules, and the risks that go into a fintech alliance are no different than a traditional vendor,” Fitzgerald underscored. Supercharging efficiency: Single platform, multiple features Starting in the domain of unstructured data processing, ClearTrade has evolved over the years into a breakthrough solution for trade finance operations and compliance Highlighting the platform’s capabilities, George put forth the several key features it offers: From a regulatory perspective, the platform’s ability to determine high-risk transactions by dissecting numerous variables offers a robust digital product for regulatory compliance automation. According to Fitzgerald, “The ClearTrade platform can be configured to consider many daa elements that you see in current G7 trade sanctions, such as Russian oil price caps.’’ Forging ahead: ClearEye’s vision for the future Digitising trade finance presents an unprecedented opportunity to reshape the industry, making it more efficient, inclusive, and sustainable. Following on their pioneering role in the digitisation of trade finance operations, ClearEye’s future holds multiple opportunities to scale. George affirmed, “We want to go deep and really solve the trade finance operations problem. There are different product types and other areas that we want to dive into. That’s our immediate focus area.’’ With a solid foundation in digitising trade finance operations, the strategic alliance between J.P. Morgan & ClearEye is set to inspire and future-proof the industry.

J. P. Morgan invests in financial technology provider Cleareye.ai

J P Morgan invests in financial technology provider Cleareye.ai

LONDON, June 20(Reuters) – J.P. Morgan (JPM.N) has made a strategic investment in Cleareye.ai, a financial technology firm focused on trade finance, the companies said on Tuesday. The parties, which entered into a commercial partnership last September, did not provide the financial terms of the transaction. Trade finance refers to financial products offered by banks and other institutions that seek to facilitate global trade by reducing counterparty risk between importers and exporters. Cleareye.ai operates a platform that it claims can expedite trade finance processes and compliance by analysing documents and data and removing manual checks. In April, Cleareye.ai announced that the U.S. bank would use the company’s software to map data directly to the bank’s back-office system, using the extracted data to manage compliance risks associated with each transaction. JP Morgan’s trade finance business receives nearly 4 million individual documents every year.

GTR announces that Cleareye.ai has won a ‘Leaders in Trade’ Award for Best Fintech Startup in Trade

Cleareye Blog Banner, Title is "GTR announces that Cleareye.ai has won a ‘Leaders in Trade’ Award for Best fintech startup in trade".

Transitioning from documents to pixels, from cash to virtual payment gateways, and from local markets to international ones, the sweeping transformation of global trade into the digital world is redesigning the trade finance ecosystem. The alliance between ClearEye and J.P. Morgan represents the metamorphosis of the future of trade finance digitization. As the industry anticipates the upcoming Sibos 2023, themed ‘Collaborative finance in a fragmented world,’ TFG’s Deepesh Patel sat down with Mariya George, CEO & Co-Founder of ClearEye, and Tom Fitzgerald, J.P. Morgan’s Managing Director and Global Head of Trade and Working Capital Product Delivery. Gaining an advantage through digitalisation The journey of the trade finance industry towards digital transformation has encountered a distinct lack of momentum. With insolvencies of various fintech companies making headlines and the rapidly evolving regulatory frameworks influenced by current geopolitical events, navigating the digital landscape has proven to be a consistent challenge for the industry. Recognising the need for transformative change, ClearEye and J.P. Morgan have joined forces with a revolutionary vision for the industry: to future-proof trade finance operations. George said, “It all starts with the back-office operations. There are a lot of challenges in today’s back-office operations, including the constantly changing regulatory challenges and needs, as well as the rising costs.”  George offered more information on ClearEye’s flagship platform, ClearTrade, and its robust capabilities, “ClearTrade focuses on three components: Digitisation, compliance/trade-based money laundering automation, and doc-exam operations automation.’’  Reinforcing the value of integrating ClearTrade and how the alliance bolsters J.P. Morgan’s trade finance objectives, Fitzgerald said, “Our internal business case around using this platform incorporates uplifting our compliance capabilities, reducing operational costs, and getting leverage through a partner relationship versus purely relying on in-house IT resources.’’’  Additionally, the roadmap for this collaboration aims to introduce ClearTrade to J.P. Morgan’s correspondent banking network Empowering collaborative finance through technology In today’s interconnected global economy, trade finance relies on a diverse range of stakeholders, collectively empowering international trade. The complexity of this ecosystem, combined with the numerous entities involved, highlights the importance of embracing technology to promote collaborative finance. Echoing ClearEye’s vision for technology-driven collaboration, George noted, “I don’t think there’s a better way to bring the world together than through technology.”  But ClearTrade’s capabilities extend beyond transaction processing.  “It’s a platform that can bring together the compliance team, the operations team to access all these external data sets that are required to do all the compliance checks,’’ she elaborated.  Furthermore, consolidating compliance and trade finance operations into a single automated solution is a remarkable step towards addressing one of the most notable challenges facing trade finance operations – fragmentation.  From exporters initiating transactions to banks handling cross-border exchanges, trade finance processes entail substantial lead times, typically lasting for days. ClearTrade can significantly expedite these processes. “With technology advancements,’’ George pointed out, “the lead times of trade finance processes can be reduced from days to hours. That’s a significant change.’’  The platform’s ability to automate labour-intensive manual checking processes including trade-based money laundering (TBML) verifications, holds the potential to revolutionise the pace and efficiency of trade finance operations. Additionally, the alliance has successfully addressed one of the most persistent conundrums in the digital transformation of trade finance: how to adopt technology while maintaining trust in the financial industry.  This alliance demonstrates that striking a balance between the two is undoubtedly achievable. Despite the innovative nature of the collaboration, J.P. Morgan’s core principles of vendor evaluation and risk management have been integral to the alliance.  “The relationships might have a slightly different contractual structure, but at the end of the day, you’re relying on a third party that needs to protect our business, our clients, and our data. The concerns, the rules, and the risks that go into a fintech alliance are no different than a traditional vendor,” Fitzgerald underscored. Supercharging efficiency: Single platform, multiple features Starting in the domain of unstructured data processing, ClearTrade has evolved over the years into a breakthrough solution for trade finance operations and compliance Highlighting the platform’s capabilities, George put forth the several key features it offers: From a regulatory perspective, the platform’s ability to determine high-risk transactions by dissecting numerous variables offers a robust digital product for regulatory compliance automation.  According to Fitzgerald, “The ClearTrade platform can be configured to consider many daa elements that you see in current G7 trade sanctions, such as Russian oil price caps.’’ Forging ahead: ClearEye’s vision for the future Digitising trade finance presents an unprecedented opportunity to reshape the industry, making it more efficient, inclusive, and sustainable. Following on their pioneering role in the digitisation of trade finance operations, ClearEye’s future holds multiple opportunities to scale. George affirmed, “We want to go deep and really solve the trade finance operations problem. There are different product types and other areas that we want to dive into. That’s our immediate focus area.’’  With a solid foundation in digitising trade finance operations, the strategic alliance between J.P. Morgan & ClearEye is set to inspire and future-proof the industry.

Cleareye.ai Announces J.P. Morgan’s Compliance Go-Live on the ClearTrade® Platform

Cleareye Blog Banner, Title is "Cleareye.ai Announces J.P. Morgan’s Compliance Go-Live on the ClearTrade® Platform." Lock Icon

A Collaboration Yielding Results NEW YORK–(BUSINESS WIRE)–Building off the momentum of the strategic alliance announcement last September, Cleareye.ai has continued its collaboration with J.P.Morgan Trade and Working Capital, which went live with ClearTrade® Compliance module in January. ClearTrade® Compliance automates the identification of the high-risk characteristics of transactions and, in an automated manner, aids users in the assessment of red flags and red flag management. It comes pre-integrated with external data providers for Vessel and Container Tracking, Bill of Lading Validation, and the identification of military & dual-use goods. This reduces risks for banks and increases efficiency and organizational controls, allowing banks to uplift global markets to higher standards without the corresponding increase in cost. Check out the latest news about Cleareye.ai! #ClearTrade #TradeFinance #Compliance #RedFlagAutomation #TBMLTweet this ClearTrade® is a comprehensive trade finance software suite that future proofs the trade operations and technology of banks through its three-module offering of Digitization, Compliance and Auto Doc Exam. The ClearTrade® platform has allowed for faster and more accurate document handling. The platform’s powerful image processing and data extraction provides significantly higher accuracy and confidence, to the tune of over 90%. This eliminates manual processes and allows data injection into a bank’s back-office system, improving the operational efficiency and transaction turnaround time. Using the ClearTrade® platform, J.P.Morgan has accelerated its journey to future proof its trade finance operations, with plans to further uplift and roll out the platform globally. James Fraser, Global Head of Trade for JPMorgan Payments says: “As our industry continues to change moving beyond the COVID pandemic, we have even more reason to focus on the digitization of trade. Cleareye’s ClearTrade® platform offers customization to streamline the manual and paper-heavy processes associated with due diligence. The strategic alliance between both J.P. Morgan and Cleareye will allow Cleareye to bring automated straight through processing to banks across the globe.” Mariya George, CEO for Cleareye, states: “With our strategic alliance with J.P. Morgan, Cleareye is focused on revolutionizing the fintech and regtech markets. ClearTrade® not only helps streamline trade transactions, but also brings together data from global sources to enable banks make confident decisions for safe, efficient and lawful movement of trade, reducing Trade Based Money Laundering risk while meeting the changing regulatory needs.” For any inquiries regarding this announcement or Cleareye.ai’s strategic alliance with J.P.Morgan, please reach out to your Cleareye.ai sales representative for more information or visit our website www.cleareye.ai

Cleareye.ai Announces Strategic Alliance with J.P. Morgan

Cleareye Blog Banner, Title is "Cleareye.ai Announces Strategic Alliance with J.P. Morgan." Clear Trade Logo

Collaboration that is set to transform Trade Finance operations NEW YORK–(BUSINESS WIRE)–Cleareye.ai announces a new global strategic alliance with J.P. Morgan’s Trade and Working Capital group. The alliance leverages an industry-leading digital solution, ClearTrade, to solve both the challenges Trade Finance operations face today and tomorrow. Through significant advances in technology, the ClearTrade platform streamlines the onerous due diligence processing associated with Trade Finance transactions and the multitude of physical documents that are still prevalent in the industry today. “J.P. Morgan maintains a gold standard for digital innovation while ensuring regulatory needs are met, and we are very excited about the ClearTrade implementation and go-live. This also reinforces the strategic alliance between our firms and the vision to digitize trade operations for banks across the globe.”Tweet this Trade Finance is an industry going through a digital transformation. The ClearTrade solution offers a revolutionary change for banks to ensure they can continue to operate in this evolving landscape plagued with a significantly increasing cost base. Over the past year, ClearTrade has been integrated into J.P. Morgan’s Trade Processing System and is now live supporting transactions in the APAC region, with a global rollout planned over the coming quarters. Through this initiative, J.P. Morgan will be able to further leverage the digitizing of documents using powerful image processing solutions with the ability to extract, validate and accurately classify unstructured data. This level of digitization allows for: Cleareye firmly believes that the ClearTrade solution has the capability to increase Trade Finance operations productivity by up to 70%. Through the automated examination of thousands of trade presentations, including both industry common and non-standard document types, the solution has demonstrated up to 9x increase in trade velocity, significant reduction in document checking errors, greater than 85% accuracy standards and up to 80% reduction in E2E processing time. Stuart Roberts, Global Head of Trade & Working Capital for J.P. Morgan says: “Digitizing trade finance documentation has the ability to provide real benefits to J.P. Morgan and our clients. Banks have grappled to solve the puzzle of paper and manual data entry in this business for many years and our alliance with Cleareye is taking meaningful steps towards solving the problem. The ClearTrade platform also helps us to accelerate and future-proof our clients’ business while reinvesting savings into enhancing controls and risk management.” Mariya George, CEO and Co-founder for Cleareye, states: “J.P. Morgan maintains a gold standard for digital innovation while ensuring regulatory needs are met, and we are very excited about the ClearTrade implementation and go-live. This also reinforces the strategic alliance between our firms and the vision to digitize trade operations for banks across the globe.” About Cleareye.ai  Cleareye.ai is an advanced Artificial Intelligence & Machine Learning platform that enables banks to launch products at a rapid pace. Headquartered in California with offices in New York, Bahrain and India, the company aims to simplify banking. The platform leverages technology breakthroughs with a fully automated document processing layer, unified ML lifecycle management, data management, model governance and dynamic rules engine leveraging NLP. This will transform banks into hyper-agile organizations, that customers want to bank with and deliver exceptional customer service, drive short-term gains and long-term growth, and generate insights to sustain momentum at a digital scale. Cleareye.ai was founded by leaders in global technology, representing decades of entrepreneurial and digital systems experience in banking. For more information, visit www.cleareye.ai Learn More

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