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5 FinTechs helping banks automate their trade finance processes

By Gloria Methri

March 14, 2024

  • AI
  • Bolero International
  • Cba
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Trade Finance, Supply Chain Finance, Trade Finance Automation, AI, Machine Learning, FinTech, UK, Europe, NetherlandsTrade finance automation refers to the use of technology to perform trade-related functions. It aims to improve customer service and reduce costs while also enhancing the productivity and efficiency of corporate supply chains.

Trade finance is used to optimize supply chain operations. It provides financial support to manufacturers, suppliers, and distributors at various stages of the production and distribution process. This ensures the timely availability of goods and fosters collaboration.

Here are five FinTechs helping banks and corporations automate their trade finance processes:

Bolero International is a cloud-based platform that helps banks and corporations exchange electronic documents and trade transactions. The company offers services such as automating compliance processes, trade finance, and document checking using AI and machine learning, as well as efficient loan contract generation.

Commercial Banking Applications AS (CBA) is a Norwegian software vendor that offers banking automation solutions for trade finance, payments, financing, loans, forex, invoicing, factoring, and account management.

CBA’s IBAS GTF solution helps banks prepare for SWIFT trade finance changes and ensures that all trade finance payments are routed to the bank’s central Payment Hub in compliance with ISO 20022 CBPR+ standards.

Conpend is a software company that provides trade finance automation technology for banks and corporations. Its TRADE AI app automates document checking for compliance, facilitating time and cost savings when examining documentary credits.

By automating document checking using AI and machine learning, Conpend’s clients can streamline paper-based processes, providing operational efficiency and increasing competitiveness by freeing resources for more meaningful reallocation.

Tradeteq is a private debt investment marketplace that streamlines and automates investor reporting, operational workflows, and ongoing note issuances. This helps investors and asset sellers service revolving funding facilities cost-effectively. Tradeteq uses AI algorithms and machine learning to capture, process, and standardize portfolios and instruments.

Traydstream is an innovative technology company that has built a powerful AI-driven platform by Trade experts for trade experts. Powered by machine learning, our software digitises documents and automates the trade and compliance checking processes. Errors and discrepancies are automatically highlighted with a press of a button – saving time and giving peace of mind to reduce your operational and compliance risks.

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