FBNUK fully implements Traydstream’s cloud based automated document checking with key partner integrations

Traydstream is pleased to announce that FBNUK has agreed a multi-year full production mandate of its platform for use by their document checking teams.  

Utilising the scalability and security of the cloud deployment has enabled FBNUK to quickly leverage the shared learnings on the platform and achieve high levels of document data accuracy and verification.  

The FBNUK and Traydstream have worked closely together over the last few months to fine tune the processes, which not only include end to end processing but FBNUK have also chosen to utilise the seamless in-built Traydstream API integrations with Refinitiv Worldcheck for detailed sanction screening and Lloyds List Intelligence for real-time vessel tracking.  

Overall, end to end processing time for Letter of Credit as well as document scrutiny and compliance reviews has been reduced by almost half.  

“We have been delighted with both the efficiency gains as well as the more robust risk mitigation that the Traydstream solution has provided,” said Antonio Gutierrez, Chief Operating Officer. “The end-to-end workflow, including trade rules, compliance checks and vessel tracking, ensure that we are focused on the activities that make the biggest impact on the client experience.”  

“FBN UK has been a hugely supportive partner in reviewing their own workflows, the platform functionality and integrations with partners to optimise their end results,” said Uzair Bawany, Chief Revenue Officer at Traydstream. “It is exactly the kind of challenge that motivates us to continually evolve.” 

 

Recent Posts

Reshaping Trade Finance in Africa – Webinar of 7 July 2021

Reshaping Trade Finance in Africa – Webinar of 7 July 2021

Traydstream invited representatives of Co-Operative Bank of Kenya and ABSA Bank Kenya to discuss on-going technology developments in trade finance in Africa. Dayo Fagade, a member of the Traydstream team introduced the session and the panelists as follows: Dorcas...

Traydstream adds the power of MS Vision to its OCR Engine

Traydstream adds the power of MS Vision to its OCR Engine

In its latest platform release, Traydstream has added Microsoft Computer Vision as a component to its existing Optical Character Recognition model. MS Computer Vision is a part of Azure Cognitive Services and boosts text extraction capabilities. Traydstream has...

Automation of Document Examination under Documentary Credits

Automation of Document Examination under Documentary Credits

As digitisation continues to evolve, automated document examination will become the new normal as financial institutions learn to trust and understand how machines work and the consistent approach that this brings to the review. Let us learn about the different levels...

An update on automated document checking

An update on automated document checking

World Trade Organisation (WTO) estimates that "some 80-90% of world trade relies on trade finance". Despite this, the sector has not undergone the same technological advancements found elsewhere in finance. Currently the processes of documentary scrutiny behind trade...