Global Trade Finance Solutions for Banks: Trade Screening Platform

Trade Finance operations and compliance just got simpler and less risky.  

Trade Finance Operations and Compliance Automation

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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

THE  PROBLEM

SOLUTION:

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

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

Labor intensity

High risk

Lengthy processing

Compliance scrutiny

Scalability challenges

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

Digitization of Documents

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

Smart interpretation

Recognize and interpret conditions and rules in 46A and 47A of LC, goods in 45A & and validate the presentation documents against these rules in an automated manner

Seamless Integration

Seamless integration with Trade Finance and Workflow systems

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

Contextual Rules Engine

Easily configurable rules engine with unique handsfree approach

Realtime Watchlist Screening

Complete trade finance related entity screening

Continuous Monitoring

Trade related anomalies monitoring and proactive reporting

  • 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

OUR DIFFERENTIATORS:

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

70%

PRODUCTIVITY 
INCREASE

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

CLEARTRADE IN TRADE FINANCE SCREENING WORKFLOW

HOW IT WORKS

APPLICATION INTEGRATION

Real-time or batch 
integration with multiple banking 
end-points

?

Documents are enhanced and standardized to
achieve best results

DOCUMENT 
PRE-PROCESSING

Relevant entities are extracted from the (un)structured documents, categorized and contextualized for further processing

Confidence score for each extracted entity
Continuous learning to enhance speed and accuracy

EXTRACTING RELEVANT INFORMATION

Information is extracted from
scanned documents using
advanced Computer Vision

This information is analyzed,
and documents are classified into specific trade finance document types using deep learning algorithms

TEXT ANALYSIS 
AND CLASSIFICATION

All relevant names and other entities (ports,
vessels, IMOs, goods) are sent for screening, i.e.
the trade finance engines is integrated with 

sanctions screening system, e.g. NetReveal

Perform calibration of the screening system to
ensure appropriate effectiveness and efficiency


Further actions in the trade finance workflow will
be waiting for screening results

SANCTIONS SCREENING

ONYX

The extracted entities are automatically validated using a set of business rules (ISBP/UCP rules are already implemented)

Decision making process automated

Continuously learns from user actions

APPLYING BUSINESS RULES

The final trade finance workflow 
should be confirmed

Relevant data elements can be continuously sent for screening - e.g. until maturity date

FINALIZING WORKFLOW & CONTINUOUS SCREENING

Get Started Today

Contact us to learn more about ClearTrade