Surecomp and Cleareye.ai have joined forces in a strategic partnership aimed at enhancing trade finance automation with the power of AI.
Surecomp®, a prominent player in trade finance solutions, and Cleareye.ai Inc., a leading provider of digital trade finance solutions, have teamed up to address the challenges faced by businesses engaged in cross-border trade. These challenges include navigating complex regulatory requirements such as trade-based money laundering (TBML), which can strain operational capacity and increase costs.
The collaboration between Surecomp and Cleareye aims to provide financial institutions worldwide with streamlined access to data within trade documents. Through intelligent automation, the partnership seeks to classify trade documents, extract data accurately, and validate it. This automation enhances trade productivity and speed, reduces risks, and ensures compliance by automatically checking for TBML and other red flags. Ultimately, it aims to help banks scale and manage growing trade volumes efficiently.
Sarath Sasikumar, President & Co-Founder of Cleareye.ai, expressed optimism about the partnership, stating that it represents a significant step forward in revolutionizing trade finance. He emphasized the comprehensive solution that the partnership aims to provide, empowering financial institutions to navigate trade finance complexities with greater efficiency and confidence.
Enno-Burghard Weitzel, Surecomp’s Chief Solutions Officer, highlighted the importance of embedding AI-based compliance checks into trade finance transactions. He sees this as a prime use case for leveraging artificial intelligence in banks’ day-to-day operations. Weitzel also expressed delight in welcoming Cleareye to RIVO, Surecomp’s ecosystem for fostering strategic fintech partnerships.
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