Toronto, Canada, 23 March 2023 – Surecomp® today announced another tradetech partnership with document checking and compliance solution provider Complidata. The Belgium-based company is the latest addition to Surecomp’s collaborative trade finance platform RIVO™, further reinforcing the firms’ ability to provide seamless connectivity to multiple best-in-class solutions within the trade ecosystem.
Complidata’s TradeSpeed NLP is an AI-based solution using the latest OCR technology to seamlessly turn trade finance documents into structured data allowing UCP 600 and ISBP checks. By accessing automated document checking via RIVO™ – including legal entity identification, sanction screening, vessel tracking, fraud and AML – financial institutions can streamline their trade finance operations and meet increasing regulatory requirements for optimized efficiency and reduced risk.
“We are thrilled to be partnering with Complidata,” says Enno-Burghard Weitzel, Surecomp’s SVP of Strategy, Business Development and Digitization. “By providing connectivity to market-leading document checking solutions, we are enabling our clients to choose the right solution for them to optimize their trade finance process, reduce operational and transaction risk and dramatically improve the speed of trade finance transactions.”
“Surecomp is a highly respected player in the trade finance industry, and we are delighted to be partnering with them to bring our clients a comprehensive AI technology co-pilot for managing trade finance operations,” said Filip Verbeke, COO of Complidata. “We believe that this partnership will help financial institutions to meet the growing demands of the market, automate some of the slower manual effort around transactions and achieve much greater operational efficiency.”
TradeSpeed NLP is based on modern proven technology such as Google Docs AI, Machine Learning and of course Natural Language Processing which allows a multitude of savings estimated in excess of 50% of full-time-effort in Trade Finance Operations and a massive up-tick in audit tracking and downstream compliance and risk elsewhere in a bank.
Abby Bickford – Director of Marketing
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