Every Company & AOP adhere to Record of Beneficial Owners 's Income Tax ...

TradeSun Innovative Artificial Intelligence Based Trade Based Money Laundering Solution

TradeSun's Anti-TBML Solution V/S Others - TradeSun Clarification

 

                                       

                                                                                                                                    

LexisNexis Risk  Solution  V/S TradeSun Solutio

 

   The TradeSun Solution is a more comprehensive system.

 

• LexisNexis focuses on trade compliance to automate sanctions and money laundering screening, while TradeSun takes these capability further
• Our scope is to automate and streamline the entire process of processing a trade finance transaction.
• The user journey is as follows:

 

1. A bank's trade finance team uploads the required trade documentation, such as the packing list, bill of lading, invoice, and more, via API to the TradeSun platform.
2. The system utilizes cutting-edge Optical Character Recognition (OCR) technology to automatically classify and label these documents.
3. It then extracts all relevant data points, such as company names, amounts, locations, etc.
4. The system identifies discrepancies and flags them for review. Once the documents are classified, labeled, and the data is extracted, the user is directed to the automated compliance screening page. Here, the bank can configure various compliance checks, such as BoL verification, vessel tracking, sanctions screening, high-risk goods, industries and countries, dual-use goods checks, fair price screening, and anti-boycott language.
5. These options are provided in partnership with third-party providers and can be customized to the bank's preferred external vendors. The TradeSun platform includes full UCP600 and ISBP checks, along with comprehensive anti-money laundering analysis.

 

 

     AKSIQ V/S TradeSun

 

1. The TradeSun platform offers all the same functionalities as AKSIQ, but with added AI functionality and highly developed OCR technology, which further streamline and enhance the accuracy and speed of processing trade finance transactions.
2. TradeSun also provides an automated ESG (Environmental, Social, and Governance) compliance module, along with vessel tracking, dual-use goods checks, etc.
3. TradeSun stands out with the world's first fully-automated ESG risk assessment system for trade finance, now adopted by banks worldwide, including 14 institutions in the Middle East like First Abu Dhabi Bank. This integration of ESG risk assessment confirms that TradeSun's solution is the most comprehensive and forward-looking solution available. As ESG's significance grows and regulatory changes occur over the next 5-10 years, banks will need to conduct ESG risk analysis of their clients. TradeSun is uniquely positioned to provide this service integrated into an end-to-end workflow.

 

 

      Bank T&D Consulting:

 

1. This is a new solution without established clients. As a result, the user interface and workflow are not as developed as the TradeSun platform and appear less refined in comparison.
2. Similar to ASKIQ, TradeSun offers all the capabilities of Bank T&D Consulting, but with additional functionality.

 

 

Why TradeSun?

 

TradeSun is the premier AI-enabled technology provider to the global trade finance industry. Our system was developed in collaboration with a top 5 global bank known for being a leader in AI innovation. We have recently secured another multi-year contract with another top 5 bank. Additionally, we have enduring clients across the globe, including Stanbic Kenya, Standard Bank Group. TradeSun's Chief Technology Officer and Chief Product Officer were both Senior Executives at JP Morgan and Citi Group, and our CEO, Nigel Hook, is an AI innovator, having been part of the IBM Deep Blue team that developed the world's first supercomputer to defeat a reigning world chess champion in 1997.

 

Leading global banks choose TradeSun for our comprehensive approach to compliance, providing the ability to integrate various types of checks, from sanctions screening, advanced TBML checks, vessel tracking, and BoL verification, to fair price checks, high-risk goods, industries and countries, anti-boycott language, and ESG risk assessments. Our clients experience up to 10x faster processing speeds for trade finance transactions, such as LCs. This efficiency translates to unmatched speed and accuracy for your clients, strengthening relationships, increasing client loyalty, and generating new business opportunities through the utilization of world-leading AI and OCR technology.

 

1. Price Indication – Competitive pricing, depending on the number of LCs processed and whether the bank chooses all of the TradeSun capabilities or only some of them – e.g. only automated compliance checks, and not the OCR trade digitization module which automatically classifies, labels and extracts data from trade documentation.
2. Do we cover Airline tracking – Yes, we can incorporate this is required by the bank.
3. Also do we have the option to monitor transshipment – Yes, we have the highest quality vessel tracking and BoL verification system which is run in partnership with a host of leading 3^rd party providers.
4. Do we have data for pricing to be incorporated in the system – Yes, fair price checking is a key component of our compliance module.
5. Does our solution cover the Central Bank guidelines – Yes, our system can be fully configured to ensure that all of the Central Bank's guidelines are adhered to with the strictest accuracy.

 

 

 

 

 

PSW - One Window Many Doors

Financial Services Fraud: How LexisNexis ThreatMetrix Can Help

Interview with Rebekah Moody of ThreatMetrix, a LexisNexis Risk Solutions