Together with technology solution providers Enigio and Cleareye, Lloyds and Maersk have completed a digital trade transaction using embedded structured data which delivered 100% data extraction accuracy and accelerated the end-to-end transactional process.
Using Enigio’s trace:original product, Lloyds and Maersk created a digital Sea Waybill with embedded structured data aligned to the International Chamber of Commerce’s (ICC) Key Trade Documents and Data Elements (KTDDE) framework. The framework aligns vocabulary across for 36 of the most frequently used trade documents and, though it is not a full data model for each type of document, promotes the usage of embedded standardised and structured data to allow for enhanced machine-readability.
The digital Sea Waybill was used in support of a shipment of tea from Kenya to the UK. The documentation allowed for 100% data extraction accuracy on Cleareye’s Cleartrade solution, thus accelerating document processing and minimising manual interventions.
Lloyds, Enigio and Cleareye will now look to work with the ICC’s Digital Standards Initiative (DSI) through their KTDDE implementation working groups to operationalise the framework across a wider range of documents, further accelerating the adoption of straight through digital processing in the effort to drive enhanced and more efficient customer outcomes
Pamela Mar, Managing Director of the Digital Standards Initiative at the International Chamber of Commerce, said: “The KTDDE framework was developed to connect different data and digital document standards to enable a seamless flow of trade data across the entire supply chain. Frameworks only gain real value through implementation, and we need to develop, test, and refine in order to see it applied widely.
“This proof of concept does exactly that – by putting KTDDE in operation. It’s an important step forward, not just in validating the framework, but in proving that seamless, data-driven trade is no longer a future aspiration but a real enabler of digitalisation today.”
Surath Sengupta, Head of Transaction Banking Products at Lloyds, commented: “This transaction marks a significant milestone in our journey, integrating digitalisation and automation for our clients’ benefit. By using structured data, we promote document standardisation from the outset, making them fully machine-readable and minimising the need for manual intervention throughout the transaction. This exciting development highlights our commitment to innovation and efficiency in trade finance, and we look forward to continuing this important collaboration.”
Patrik Zekkar, CEO of Enigio, commented: “This is what the future of trade looks like: a single digital document that’s both the legal original and the structured data. It travels across systems, untouched and tamper-proof, ready for full automation. That’s the step change. We’re not just experimenting — we’re executing, with Lloyds and Cleareye and ICC DSI, to bring this approach to scale. This was the first step — aligning on vocabulary and proving that document and data can move together. It’s how we go from isolated pilots to true interoperability and automation across document types and stakeholders in the trade chain.”
Mariya George, CEO of Cleareye.ai, said: “Our collaboration with Lloyds and Enigio brings together three pioneers committed to redefining the future of trade finance with this ground-breaking solution. At Cleareye, we’re leading the shift from manual, paper-based processes to intelligent automated, and fully digital trade flows; we’re setting a new standard for speed, compliance, and trust. This clearly demonstrates how all parties are firmly aligned with the ICC’s KTDDE initiative and represents a bold step toward a truly digital trade ecosystem.”
For further information, contact Lorna Gilmour: [email protected] / 0207 356 2374
Notes to editors
Lloyds’ Support for Businesses
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- Lloyds supports more than one million UK businesses with leading digital and relationship banking services, as they start up, grow, thrive and trade internationally.
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- Through a network of relationship teams based across the UK, as well as internationally, it delivers a mix of local understanding and global expertise necessary to provide long-term support to its clients to help businesses fulfil their growth aspirations.
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- It offers a broad range of financing beyond term lending, which spans import and export trade finance, structured and asset finance, securitisation facilities and capital market funding.
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- Its product specialists provide bespoke financial services and solutions, including tailored cash management, international trade, treasury and risk management services.
About Cleareye.ai
Cleareye’s solutions are designed to help financial institutions serve their clients in a fast and efficient manner, improving productivity and ensuring regulatory compliance, while effectively managing operational risks. Automated classification and extraction of unstructured data from trade documents is done using advanced AI, Dynamic Rules Engine per industry standard UCP, ISBP & URC rules to execute auto Document Examination and Trade based money laundering checks.
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 organisations, 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.
For more details, visit www.cleareye.ai. Contact: [email protected].
About Enigio
Enigio’s trace:original solution enables the creation of digital documents that can be ‘possessed’ by an individual, transferred between parties and originals can be distinguished from copies, just like paper-based counterparts. This means digital documents can be used in processes where an ‘original’ document is required.
Unlike other digital trade solutions that require all parties to subscribe to digital platforms, Enigio’s solution only requires the party creating the document to be an Enigio user.
Enigio is a tech company offering the open network for digital trade, enabling businesses to securely exchange all trade documents—such as bills of exchange, promissory notes, and eBLs—without registration or platform barriers. Enigio’s trace:original solution ensures seamless document transfer, legal validity, and full interoperability, helping businesses replace paper workflows and scale digital trade with ease.
Visit www.enigio.com for more information. Media and press contact: Solveig Rundquist [email protected]
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