Toronto, Canada, 31 August 2023 – Surecomp today announced that it is partnering with Pelican AI, a global provider of AI-powered financial crime and compliance solutions, as part of a collaborative vision to drive the digital transformation of trade-based risk management.

Offering comprehensive solutions to financial institutions worldwide, the new collaboration between Surecomp and Pelican AI will specifically address the need for more streamlined and readily accessible data from within trade documents. By intelligently automating trade documents and accurately extracting and validating data from the trade finance process, financial institutions using RIVO™ will be able to improve trade productivity, reduce risk, ensure compliance and ultimately boost scalability to process burgeoning trade volumes.

The complexity and paper-based nature of the trade finance process means that scaling up an industry-compliant operation requires a level of automation and efficiency provided only by digital solutions. The biggest concern for many financial institutions is how to ensure regulatory compliance while driving growth without draining resources.

Parth Desai, CEO of Pelican AI, said: “We are pleased to partner with Surecomp, creating a unique combination of proven trade finance and compliance expertise with best-in-class innovation leveraging both Artificial Intelligence and the cloud, while further presenting a major opportunity to support financial services organizations of all sizes.”

“We are delighted to welcome Pelican AI as the latest fintech partner to our RIVO™ hub,” says Enno-Burghard Weitzel, Surecomp’s SVP Strategy, Digitization and Business Development. “Compliance is probably the number one challenge for banks worldwide and by partnering with Pelican we are enabling them to alleviate the regulatory burden and provide the necessary data and reports on demand.”

About Pelican AI
Pelican AI has pioneered the practical application of Artificial Intelligence technology for over twenty years. Pelican provides banks and corporates with solutions that enhance, streamline and secure the trade lifecycle, partnering with customers to deliver innovative and agile solutions and drive growth. To date, Pelican has enabled outstanding efficiency benefits and increased speed to market for customers in over 55 countries, processing more than one billion transactions worth over US$10 trillion. Pelican is a global company with offices in New York, London, Dubai, Mumbai and Hong Kong. Pelican offers a full range of trade, payments and compliance solutions, covering every operational and regulatory aspect. Pelican uses NLP, ML, and AI to enable high levels of automation and rich intuitive interfaces for management of payments, with self-learning capabilities. Together, the solutions offer an intelligent way to manage processes and meet objectives, by leveraging latest technologies.

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