Vendors
日本語
search
  2. //
  3. Reports & insights
  4. //
  5. Traydstream TraydCheck: AI-Powered Trade Document Checking

Traydstream TraydCheck: AI-Powered Trade Document Checking

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
22 September 2024
Patricia Hines

Abstract

Like other document-heavy transaction banking processes, trade finance is ripe for disruption. The process is highly manual, with documents checked one by one using the human eye, leading to inefficiencies and potential errors. The use of paper for document checking remains prevalent, with 45% of banks reporting no reduction in paper use for document verification. Manual processing is prone to errors, resulting in significant penalties for non-compliance, including fines and reputational damage.

Technology to the rescue! Artificial intelligence-enabled software and tools can scan and read the contents of paper documents, recognizing patterns and comparing findings against built-in rules based on legal requirements. When choosing an AI-enabled trade document checking solution, banks have choices. We encourage banks to benchmark their requirements against available solutions in the market. One contender is Traydstream’s TraydCheck. The solution leverages several AI-enabled data-driven technologies to extract data, manage workflow, and automate trade document checking.

Client Access