by Conpend

AI driven data capture, OCR, Automated Compliance, AML for Trade Finance

A robotic process automation solution developed specifically for Trade Finance transactions and enables the complete digitisation of paper document flows within 6 months. Benefits include:

  1. Up to 80% saving by automating Trade Finance processing.
  2. Automated screening of documents against Trade Based Money Laundering Red Flags.
  3. Automated document checking against a contract such as a SWIFT MT 700.
  4. Business insight through exposing extensive data from the trade documents.
  5. Peace of mind due to real time Compliance monitoring on all data.

Trafinas uses Optical Character Recognition (OCR), Natural Language processing (NLP) and machine learning to extract data from scanned paper documents without using “templates”. Data is then screened and analysed using rules and advanced analytics to empower Business users to make informed business decision quickly and accurately.

Trafinas provides a configurable workflow within the application allowing for seamless movement of work between Clients, Operations and Compliance, which can be tailored in accordance with the banks requirements. An extensive audit trail of all activities is included through the Case Management capability which ensures that all correspondence over a transaction, including with Clients, along with other relevant documentation is stored in a “single version of the truth” for audit purposes.

Given its modular, micro service based design, Trafinas can easily integrate with existing Client Portals and Trade Finance or Core Banking back office systems. Use of existing infrastructure such as Document Management Systems for text extraction (OCR) and document storage is supported and Trafinas has been deployed both on premise and in the cloud.

At a glance