ClearTrade (Factsheet)

ClearTrade by is an automated approach to reducing risk in trade finance operations and simplifying sanctions screening

ClearTrade is a digital workbench to process trade finance transaction documents, perform automated reconciliation against UCP and ISBP rules and seamlessly integrates with Sanctions Screening systems and TBML (Trade Based Money Laundering) systems. A typical trade transaction goes through numerous compliance checks during its life cycle, with each review racking up costs along the way. Moreover, paper based trade finance transaction processing is inefficient, time-consuming and vulnerable to financial crime. ClearTrade differentiates itself from competition due to efficiencies gained via speed in end-to-end processing time, the absence of any back-end intervention, a flexible rules engine, combined with NLP and advanced AI capabilities.

ClearTrade aims to improve operational productivity by 70%, automating stringent regulatory and compliance processes, as well as highly manual and paper-intensive operations. As a result, it reduces operational risk, reputational damage and fines – opening up resources in your business to deliver excellent customer value.

How it works

ClearTrade extracts data from unstructured documents handled in Trade Finance like Bill of Lading, Bill of Exchange, Invoices, Packing lists, Certificates of Origin, Letters of credit etc. It checks for completeness against section 45A, 46A and 47A of the LC terms and conditions, and validates against applicable UCP/ISBP rules. ClearTrade also automatically conducts compliance and TBML red flags screening against the data extracted from the documents presented under the trade transaction. The workbench provides a simple intuitive interface for makers/ checkers to review and verify the findings. The integrated data logistics component automates the movement of extracted data to the banks' internal systems.

Powerful pre-processing

Powerful Image pre-processing and added ability to extract tabular data

Pre-trained models

Pre-trained models for standard trade documents data extraction

Easy share

Ability to share extracted data to Banks core TP system and / or push through existing Sanctions Screening systems

Third party integration

Integrate with third party providers for vessel tracking, dual usage of goods screening and sanctions filter, sanction screening and compliance checks

Model improvements

Fine tuning of learning process based on user feedback and model improvement over time

Rules coverage

Complete coverage of UCP 600 and ISBP rules built in

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