RAKBANK taps Cleareye.ai to automate trade finance operations

By Gloria Methri

RAKBANK has announced a partnership with Cleareye.ai, a US-based FinTech known for its AI-powered digital trade finance solutions. The collaboration marks a significant step towards automating and enhancing trade finance workflows while strengthening risk management and compliance efforts.

At the heart of the partnership is Cleareye.ai’s flagship product, ClearTrade®, an AI-driven platform designed to streamline the complex and traditionally manual processes involved in trade finance. By integrating this technology into its operations, RAKBANK aims to boost processing speed, reduce operational risk, and improve its ability to detect trade-based money laundering (TBML) — a key concern for global financial institutions.

This initiative aligns with RAKBANK’s broader digital transformation agenda and its commitment to advancing financial innovation within the UAE’s dynamic banking sector.

“This collaboration supports our mission to bring cutting-edge innovation into core banking functions and enhance the overall customer experience. Trade finance is a crucial area for digital transformation, and partnering with Cleareye.ai helps us lead the way,” the bank said in a post on LinkedIn.

Cleareye.ai, headquartered in California, is recognised for enabling banks to transform traditional, paper-intensive trade finance processes into streamlined, intelligent workflows through the use of AI, machine learning, and natural language processing. Global financial institutions have adopted the ClearTrade® platform to drive efficiency, reduce turnaround times, and maintain regulatory compliance.

For RAKBANK, the integration will enable faster turnaround times for trade clients while meeting the increasing demands for regulatory compliance and fraud prevention. The technology also enables scalable automation, ensuring the bank can maintain pace with growing trade volumes and complexities without compromising control or accuracy.