Smart Automation for Trade Finance
Trade Finance is essential to the global economy. Increasing operational complexity and regulatory compliance requirements have made customer experience and profitability a challenge. Corporates are also moving towards open account trade, and reducing their reliance on bank intermediated trade finance instruments. Trade Finance activities are highly process oriented, document intensive and require scores of highly skilled and semi-skilled people to collaborate and manage operations to ensure seamless processing. With increased focus on cost cutting across banks and a continuous drive to maximize operational efficiency, there has never been a better case to optimize trade finance operations and processes using Smart Automation.
- Reduced operational costs: Automated workflows reduce manual effort by up to 65%
- Faster turnaround time: Over 70% more efficient processes with reduced transaction TAT
- Support multiple products/ time zones: Intelligent robots work round the clock and service requests across the globe
- Intelligent compliance: Document processing, sanctions and compliance checks are up to 25% percent faster with machine learning and intelligent word recognition
- End 2 End Services: VirtusaPolaris works with banks throughout the smart automation journey from building the business case, to implementation and deployment.
- Accelerated implementation with Pre Analysis of Trade Finance functions
- Cognitive and Non Cognitive process classification driven approach
- Solution Accelerators with demos
- Optimized Automation spend with the right tools for each use case