A set of FinTech tools and software products was engineered to facilitate international commerce and trade. These international trade software solutions enable importers and exporters to transact with each other in a more transparent and efficient fashion. The umbrella term "trade finance” covers the entire range of IT products that banks and companies apply to make such seamless transactions possible.
Python, Scala, Java
Azure, Microsoft SQL Server
The core functionalities of the solutuion make it possible to easily include new parties in transactions and mitigate various supply and payment risks. Namely, they enable exporters to obtain receivables or payments in accordance with an agreement, while importers might be granted extended credit to fulfill an order.
The trade finance solution can be used by:
Finance instruments and processes covered:
Andersen's solution delivered:
Due to ongoing changes in the regime of international sanctions and finance regulations, financial institutions face higher compliance risks and regulatory fines. Under these circumstances, the checking process of non-standard documents poses serious challenges and generates significant compliance risks. On top of that, human errors are also a factor to be reckoned with.
Thus, the solution was expected to be able to run KYC/AML/sanctions checks, scan and process information from all documents via AI, and transfer this data to the target system used by potential end-users for client onboarding, monitoring, and trade validation.
I. Document recognition engine:
II. Refinement engine:
III. Data Lake engine:
IV. Share engine:
V. Flexible Machine Learning platform:
VI. KYC/AML risk matrix engine:
VII. SWIFT process automation:
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