AI-powered automation for Trade Finance—accelerating document processing, ensuring compliance, and reducing risk with unmatched speed and accuracy.
Business Need
Transactions processing in trade finance such as Letters of Credit (LC/SLBC), Documentary Collections, Remittances, and Bank Guarantees—are heavily manual, time-consuming, and inefficient. Managing high volumes of diverse documents with complex financial and legal details leads to delays, errors, and disputes. Manual data entry increases financial risk and slows reporting, while the lack of automation impacts accuracy, customer satisfaction, and operational speed.
Risk management is crucial and includes detecting duplicate invoices, identifying dual-use goods, validating Bills of Lading, checking price consistency, and monitoring high-risk countries and industries. It also involves vessel sanction screening and anomaly detection. Handling these manually is time-intensive and prone to oversight.
Compliance demands adherence to global and local standards like UCP, ICC, ISBP, and RBI. This includes validating transactions with business rules, performing name checks, and conducting AML and sanction screenings. AI automate these tasks, reduce risk, improve compliance, and accelerate trade finance operations.
Solution
An AI-powered platform automates and streamline trade finance workflows across LC/SBLC, Documentary Collections, Remittances, and Bank Guarantees.
- Smart Ingestion: Accepts various formats — PDFs, scans, handwritten or printed — via secure APIs or batch uploads from internal systems of banks.
- Classification: Automatically classify documents like LC forms, invoices, packing lists, BLs, and BGs. The template-free engine handles diverse global formats and layouts.
- Data Extraction: Extract key fields, including compliance-relevant data such as Incoterms, origin country, etc.
- Compliance Validation: Applies business rules and checks against ISBP, UCP, URC, SWIFT formats, and FX terms. Flags expiry issues, missing fields, and dual-use goods risks.
- Risk & Discrepancy Checks: Detects mismatches across documents, shipment inconsistencies, and patterns. Enables maker-checker workflows with audit trails and compliance checkpoints for high-value transactions.
- System Integration: Seamlessly connects with trade finance back-office systems for faster processing, end-to-end traceability, and improved turnaround time.
The izTRF AI platform benefits are as below
Scalability
Scalability from faster trade document processing.
Accuracy
Key Value Extraction Accuracy Ranging from 80 to 99.9%
TAT
Faster Turn-Around-Time due to increased automation
Productivity
4x–10x Productivity through significant time savings.
Solution Features
Case Management
Index incoming documents over time and link them to cases.
Automated Verification
Match information across documents with a confidence score.
Regulatory Compliance
Applies rules based on UCP, ISBP, ICC, and RBI guidelines.
Automated Risk Checks
Automates name screening, sanctions checks, and anomalies.
Seamless API Integration
Sanction screening of entities, ports, goods via 3rd-party integration.