Traydstream is proud to announce its partnership with Sonali UK, a leading UK-based financial institution established in 2001. Specializing in Trade Finance services, Sonali Bank UK operates through a global network of correspondents, delivering essential trade solutions to clients worldwide.
In 2024, Sonali UK and Traydstream joined forces to enhance and streamline the bank’s trade finance operations by implementing Traydstream’s cutting-edge platform. This partnership marks a key step in Sonali Bank UK’s digital transformation journey, as it adopts a digitised trade documents solution that automates critical trade and compliance processes.
By using Traydstream’s platform, Sonali UK now benefits from the automation of trade document scrutiny, drastically reducing processing times and allowing for higher transaction volumes with greater efficiency. Compliance checking is also streamlined, as the platform integrates global trade finance regulations directly into the workflow, minimising human error and ensuring consistent adherence to regulatory standards.
The platform further enhances Sonali UK’s operations by offering real-time Vessel Tracking and Container Validation through integrated partner systems. This provides greater transparency and faster verification of shipping details, improving risk management and client confidence. Additionally, automated Price Checks and Bill of Lading (BL) Tracking ensure that traded goods align with accurate market rates and shipment information, reducing discrepancies and the risk of fraud. These innovations collectively improve operational efficiency, lowering costs, accelerating transaction processing, and elevating the overall client experience.
Sameer Sehgal, CEO of Traydstream, shared his excitement about the partnership:
“Our partnership with Sonali UK is a major step forward in bringing digitised and automated trade finance solutions to financial institutions globally. By utilising our platform, Sonali UK is able to offer more efficient, compliant, and transparent trade finance services. We are thrilled to be part of their digital transformation journey.”
Masum Billah, CEO at Sonali Bank UK, commented:
“Traydstream’s platform provides us with a powerful solution for optimising our trade finance processes. The automation of trade document scrutiny, compliance checks, and real-time tracking capabilities gives us greater control over transactions, reduces risks, and enhances the quality of our services. We look forward to leveraging this partnership to drive innovation and better serve our clients.”
This partnership highlights both institutions’ shared commitment to modernising trade finance through technology, setting a new standard for operational efficiency and compliance in the digital age.
Stay tuned for more updates on this groundbreaking partnership!
