Trade Finance Operations and Compliance Automation

Trade Finance operations and compliance just got simpler and less risky

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The Problem

DOCUMENT SCRUTINY AND COMPLIANCE CHECKS IN TRADE FINANCE ARE EXPENSIVE, TIME-CONSUMING & UNPREDICTABLE 

Stringent regulatory scrutiny and compliance requirements combined with highly manual, and paper intensive operations leave banks increasingly exposed to significant operational risk in terms of reputational damage and fines

 
  • Labor intensity
  • High risk
  • Lengthy processing
  • Compliance scrutiny
  • Scalability challenges

Solution

CLEARTRADE, THE INTELLIGENT TRADE DIGITIZATION AND COMPLIANCE AUTOMATION PLATFORM FROM CLEAREYE.AI 

 

70% INCREASE IN PRODUCTIVITY

 

Cleareye.ai’s advanced Artificial Intelligence solution, ClearTrade, improves the effectiveness and efficiency of Trade Finance Operations and Compliance process. A digital workbench designed by trade finance professionals to ingest, classify, extract large volumes of trade finance transactions, and perform automated reconciliation against UCP, ISBP and URC rules. It seamlessly integrates with Sanctions and TBML systems 

Digitization of Documents

Automated classification, extraction and validation of information using advanced AI techniques

 

Smart interpretation

Automated classification, extraction and validation of information using advanced AI techniques

 

Seamless Integration

Automated classification, extraction and validation of information using advanced AI techniques

 

Contextual Rules Engine

Automated classification, extraction and validation of information using advanced AI techniques

 

Realtime Watchlist Screening

Automated classification, extraction and validation of information using advanced AI techniques

 

Continuous Monitoring

Automated classification, extraction and validation of information using advanced AI techniques

 

DIGITAL PLATFORM

  • Built by Trade Ops experts for Banks
  • Compliance baked into Doc Exam Process
  • Auto classifies documents and easy to navigate guided flows
  • Intuitive completeness check to show missing documents
  • Powerful Image Pre-processing and ability to Extract Tabular Data
  • Machine Learning process based on user feedback and model development
  • Bill of Lading and Vessel info validation during the doc check process
  • Identify hidden TBML & Sanctions red flags during the doc check process
  • User friendly view of discrepancies

Benefits

Automation and Intelligence augmentation to drastically increase analyst productivity

Flexibility to customize for bank specific business rules while adhering to UCP/ISBP rules

Designed to eliminate false positives and false negatives in compliance checks

Seamless integration with legacy core banking and trade finance systems

Efficiency Gains 

Across the Globe

70%


Increase in Productivity

9x

 

Increase in Trade Velocity

>85%

 

Accuracy standards vs 65% for competition

80%

 

Reduction in E2E processing time from three hours to ~20mins

How it Works

CLEAREYE.AI IN TRADE FINANCE 

SCREENING WORKFLOW

 

 

 

Features

  • Self-learning system that improves efficiency of scrutiny with time
  • Ability to extract from low quality documents with advanced OCR and deep learning capability built into the platform
  • Real time visibility into scrutiny process including SLA tracking
  • Seamless integration with Sanction Screening and TBML systems
  • Complete coverage of UCP, ISBP and URC rules
  • Interprets MT700/707 – Letter of Credit for rules check
  • Interprets conditions and rules in 46A and 47A of LC and validate the presentation documents against these rules in an automated manner using NLP
  • Interprets goods description in 45A and validate against the presentation documents in an automated manner
  • Identifies “Anti-Boycott” languages if any found in the LC terms and conditions
  • Extraction of relevant fields for sanctions screening – Vessel name, Port names, Goods (for dual use good screening etc.)
  • Generates Discrepancy report with ability to export to Bank’s Trade Processing System

Our Differentiators

  • Digitization of Documents using advanced AI techniques built by Trade Ops experts
  • Smart interpretation to recognize and interpret LC clauses (46A, 47A) and verify against ICC rules and across all documents
  • Dynamic rules engine with built in coverage for UCP, ISBP, UCG and ability to modify and customize by bank/region
  • Incorporating over two years of a Global bank’s discrepancy resolution, full LC lifecycle and amendment handling and the best user managed rules engine in the industry
  • Vessel and BL Tracking, increasing efficiencies
  • Identify hidden TBML (Red Flags, Fair Price, Dual Use Goods) and Sanctions Screening
  • Seamless integration across Trade Back Office systems

Get Started Today

Contact us to learn more about ClearTrade

Contact us

Simplify Banking

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OUR ADDRESS

USA

Cleareye.ai, Inc.

1177 Avenue of the Americas,

5th Floor,

NY 10036

Email: contact@cleareye.ai

 

Cleareye.ai, Inc.

999 Corporate Drive,

Ladera Ranch,

CA 92694

INDIA

Cleareye.ai Private Limited

9A, Carnival Infopark,

Technopark Campus,

Karyavattom P.O.,

Trivandrum – 695581

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