Cloud Pak for Business Automation

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Usecase: Transforming Global Trade Finance Operations using Cloud Pak for Business Automation

By Poornima Sekhar posted Thu September 30, 2021 05:23 AM


Trade Finance process facilitates the import and export activities and international trade transactions. There are multiple key entities involved in this process: Exporter of the good, Importer of the good, Exporting Bank and the Importing Bank.

With Trade Finance, the exporter requires that an importer prepays for goods shipped but the importer naturally wants to reduce the risk associated by asking the exporter to document that the goods have been shipped as proof. To facilitate the financial transaction with reduced risk for both the exporter and the importer we have the importer’s bank provide a letter of credit to the exporter’s bank to guarantee the payment upon presentation of certain documents, such as a bill of lading.

The Trade Finance Intelligent Workflow built using the Cloud Pak for Business Automation is targeted towards automating the Operational Process of the Exporting Bank.

The end-to-end solution aims at

  1. reducing the operational cost - by streamlining workflows and reducing unnecessary process or manual steps
  2. Increasing efficiency but automating several manual overheads
  3. Re-defining Employee Role into decision makers
  4. Stronger Risk Management

Below are the Key steps through the Trade Finance Transaction that was automated using cloud Pak for Business Automation

DataCap and Intelligent Extractor (a DataCap asset built by IBM Expert Labs) was used for document checking and extracting business relevant information from the Trade Documents.

Trade Data validation was done by Integrating with Trade Lens from the BAW orchestration layer.

ODM was used to automate the Anti Money Laundering Rules, UCP 600 rules and the ISBP rules in the process.

The end-to-end Trade Operations Tracking was done using BAI.

FileNet Content Manager was used as the content repository to store the trade documents through the process.

The entire user experience for the above process automation was implemented using the IBM Application Designer, the low code authoring tool for business applications.

The solution also integrated with Watson Assistant conversational AI technology to provide a trade Finance Officer Advisor Capability. This helps Trade Finance officer have the required information on the various trade rules at their fingertips.

This solution was demonstrated to various Banking Clients and helped qualify and covert a few into the next steps in engaging with IBM garage workshops and POCs.

A view into the user experience and the process flow automation can be seen in the screen snippets below –

Transaction Dashboard - App Designer Integration with BAI

App Designer Integration with DataCap and FileNet to show the data extracted from trade Documents and The Trade Document itself.

App Designer Integration with ODM to display the rules output and with Watson Advisor