Machine Learning

ML-driven Cleareye.ai joins ITFA & the Fintech Committee

Cleareye.ai

Cleareye.ai, a leading fintech platform that transforms banks into hyper-agile organizations, announced that it is joining the ITFA Fintech Committee. Cleareye.ai, aiming to make a significant impact in the trade finance ecosystem, finds ITFA the perfect forum to achieving its mission.

Cleareye.ai’s “ClearTrade” is designed to make the trade operations and sanctions screening simpler and less riskier. ClearTrade is an easy-to-use digital workbench and proprietary rules engine to automate workflow of trade finance screening and compliance processing. The rules engine provides industry leading coverage of ICC rules governing international trade.

Cleareye.ai in partnership with ITFA is committed to creating a safe and transparent trade finance industry.

Mariya George, Co-Founder and President at Cleareye.ai says: “Cleareye.ai is excited to join ITFA to help its mission to bring together banks and financial institutions engaged in originating and distributing trade related risks. Our focus is to help reduce the TBML risks induced by the document-centric process, human centered review, and dependency on bank personnel. Our AI and NLP break throughs allows processing unstructured data accurately at scale and validating against ICC rules, to significantly reduce false positives and missed red flags.”

Sarath Sasikumar, Co-Founder and COO at Cleareye.ai states: “ITFA is the perfect forum for a Fintech like us who want to make a significant impact to the Trade Finance ecosystem. Cleareye.ai is excited to be part of ITFA’s incredible journey and hope to create exponential value not only to its members but also to the larger Trade Finance Industry.  Trade finance undoubtfully is a powerful money-making tool for financial institutions, but it comes with its share of risk associated with potential for fraud, money laundering, and breaches to regulations. Cleareye.ai uses advanced Artificial Intelligence (AI) to improve the effectiveness of Trade Finance Operations and Sanctions Screening processes while increasing productivity by up to 70%. The platform processes trade finance transactions documents, performs automated reconciliation against UCP and ISBP rules, and seamlessly integrates with Sanctions Screenings and TBML systems.”

ITFA is committed to the continuous development and growth of the trade finance and forfaiting industries. It acts as a valuable forum for its 300+ members to interact and transact business together profitably and safely. As a part of its mission, ITFA is in the forefront to understand the emerging changes, challenges, and opportunities in trade finance.

“Artificial intelligence is being embedded in a growing number of front- to back-office processes. This is a key technology trend that benefits banks and their corporate / SME clients. Cleareye.ai demonstrates how modern technology enables banks to speed up various key processes whilst redefining client experience at a fraction of the cost,” said André Casterman, Chair Fintech Committee, ITFA.

“We have only just begun what will be a very exciting and transformative journey to incorporate the use of artificial intelligence into trade and trade finance. I am very happy that Cleareye.ai have seen the potential for their advanced technology in these markets and to welcome them to our community.” Said Sean Edwards, Chair, ITFA.

For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.

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