ABN AMRO and Complidata are pleased to announce a partnership to bring further automation to ABN AMRO’s trade finance operations globally, using TradeSpeed.
The collaboration will focus on documentary trade finance, specifically letters of credit and documentary collections, where manual processes are usually based on images of paper documents such a bills of lading and invoices. Complidata’s TradeSpeed solution uses various artificial intelligence (AI) techniques including large language models (LLMs) to increase the level of digitization possible in these processes.
This is one of the first uses of LLMs in trade finance, and points the way toward a more digital future in the industry, along with other national and multinational efforts focused on data and digitization.
“This is about our people, and using technology to help them in their day-to-day roles” said Burak Aslan, Lead Product Owner Trade Finance at ABN AMRO. “TradeSpeed will empower our operations team members to focus on making decisions rather than completing time-consuming tasks. This will ensure increased capacity for value added service towards our clients. Building on that foundation we envision exposing our capabilities to clients in the long term, so they can benefit from our capabilities as well.”
“The technology now available to trade finance operations experts is really incredible” said Ben Arber, CEO of Complidata. “It is a credit ABN AMRO that they are at the forefront of these innovative changes, which will be beneficial for the bank’s people, regulators and shareholders alike.”
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For more information on TradeSpeed and Complidata please contact info@complidata.io
ABN AMRO Trade Finance: Let us know how we can help your business grow! For more information please reach out to our Trade Sales consultants via +31 10 402 47 65 or discover more here https://www.abnamro.nl/en/commercialbanking/products/trade-finance/index.html