- The platform digitizes and automates the examination of Trade Finance documents using Artificial Intelligence (AI)
- This technology allows the Bank to significantly reduce the response time to its clients as well as the trade documents examination process.
- In addition, it increases the effectiveness of the end-to-end process and improves the experience of our customers.
London UK, September 3rd 2024.- Grupo Financiero Banorte adopts the technology of Traydstream, a leading company in technology solutions in the field of trade finance, streamlining the examination of trade finance documents through digitization and automation.
Committed in innovation to improving customer experience, Grupo Financiero Banorte has integrated this new platform into its processes, which uses optical character recognition (OCR) and artificial intelligence (AI) to perform the examination of trade finance documents, significantly reducing the response time.
While the automated document review reduces operational errors and facilitates information and statistical data collection, the tool’s learning capability allows improvements of both current and long-term efficiency.
In this regard, Ricardo Velázquez R., Managing Director r of International Banking at Grupo Financiero Banorte, commented: “At Banorte we place our customers at the center, offering them the best banking experience, for this reason, we have invested in this cutting-edge platform that reflects our commitment to bring state-of-the-art technological solutions, with direct benefits, that facilitate the operations of our clients to maintain ourselves as the leading bank in Mexico in Trade Finance.”
For his part, Oscar Mazza, Business Development Head Latin America at Traydstream, highlighted: “We are proud to announce that Banorte has selected Traydstream for its Trade Finance innovation strategy. For us, it marks an important milestone in the company’s efforts to expand our presence in the Latin American market. This collaboration will allow us to leverage the Banorte team’s deep knowledge of Trade Finance and the local financial landscape, providing our clients with enhanced services and innovative financial solutions.”
This adoption adds to Banorte’s recent recognition as the “Best Service Bank in Trade Finance” in Mexico 2024 by Euromoney magazine, which highlights Banorte’s personalized client service model, as well as the high-quality standards and response times for its customers in trade finance and bank guarantees solutions.
About Banorte
Grupo Financiero Banorte (GFNorte) is the largest Mexican financial institution. It offers financial services to individuals and legal entities through its banking, brokerage house, fund operator, insurance, pensions, leasing and factoring, bonded warehouse, portfolio manager and remittance company, Uniteller.
GFNorte also integrates Afore XXI Banorte, the largest pension fund management institution in the country in assets. GFNorte is a public company listed on the main indicator of the Mexican Stock Exchange, and has 32,966 employees, 1,165 branches, 10,530 ATMs, 209,162 Point of Sale Terminals and 19,652 correspondents that with the alliance with OXXO will reach almost 41 thousand.
LinkedIn: Grupo Financiero Banorte
Twitter: @GFBanorte_mx
Facebook: Grupo Financiero Banorte
For more information to media, please contact our external communication team: [email protected]
About Traydstream
Traydstream is a cloud-based platform, whose modular technology digitizes Trade Finance documents, intelligently extracting and, based on Machine Learning experience, validating the transaction documentation against a vast and evolving group of Trade Rules and Compliance reviews. The platform redefines and facilitates the processing of Trade Finance operations.
LinkedIn: Traydstream
For more information, please contact:
Emma Davies
Head of Marketing
Traydstream Limited
Tel: +44 (0) 7791179101
