Expedite Trade Finance Transactions with Intelligent Automation

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Trade is a sign of a booming economy. It is executed between different geographies and time zones. Trade facilitates value chains at different levels. It involves multiple parties, including banks, along with a lot of paperwork. The entire process involves high risk as the buyer and seller are in different geographies with a chance to get duped in spite of parting with the money and goods/supplies. Hence banks get involved from either side to hedge off risk and take care of the financial transaction and goods exchange giving rise to a new branch in banking – Trade Finance. As the whole process involves high stakes and paper-based processes, the processing, maker-checker process, scrutiny, etc., takes a long time. Intelligent Automation enables the transacting parties to expedite the entire Trade Finance process to the nth level.How does Intelligent Automation expedite Trade Finance?Intelligent Automation integrates Intelligent Data Capture or Intelligent Document Processing, Document Management, Rules, Artificial Intelligence / Machine Learning algorithms, Workflows, etc. The entire mashup expedites the paper-based process beyond imagination. In the context of the Trade Finance scenario, it also integrates various auto-checks for global Anti Money Laundering compliance measures, the fulfillment of statutory regulations, and document consistency.Intelligent Automation expedites …

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