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Surecomp and Cleareye.ai Partner to Enhance AI Powered Trade Finance Automation
Surecomp® today announced a strategic partnership with Cleareye.ai Inc., 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.”
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