IBM is committed to helping financial institutions solve the complexity of trade and working capital finance digitalization by bringing curated ecosystem innovation partners to achieve this objective. IBM enables AI and market leading FinTechs and services on the IBM Cloud for Financial Services – a proven and purpose-built landing zone for independent software vendors (ISVs) or FinTechs to deploy their SaaS applications – with a common set of services delivering the compliance, security, integration, and automation needs of the industry.
The road to digital trade and supply chain finance has not been an easy one — historically, complicated by ever-changing compliance obligations with associated steep penalties and the difficulty in driving change across a global ecosystem of financial institutions, buyers, suppliers, and government agencies. In our view, digitalization cannot be accomplished by a single Bank or Vendor, the industry requires a trusted platform operator who can harness the power of a vibrant ecosystem and create an industry specific platform for trade and supply chain industry that unlocks value for the entire ecosystem.
Connected Trade Platform: Full-stack managed service trade solutions to accelerate the introduction of new digital Trade Finance & Working Capital products, modernize trade operations and reduce 3rd/4th parties compliance risks. The Trade Solutions portfolio includes:
Trade Risk & Compliance:
- Advanced risk management and regulatory compliance solutions that leverage AI, ML, and OCR to automate trade document processing, ensuring compliance with sanctions, trade-based money laundering (TBML) regulations, screening against sanctions lists and flagging suspicious activities, integrating external data like vessel tracking for enhanced due diligence, reducing manual errors and accelerating processing times for trade finance and supply chain operations
Trade & Supply Chain Digitization:
- A comprehensive suite of market leading trade and supply chain finance software solutions with flexible feature integration and trusted products to help banks and corporates to enhance efficiency, transparency, and working capital management reduce risk with deep integration into banking systems ,
Trade AI Automation:
- Global Trade and Supply Chain Intelligence for advanced decision-making with granular data and AI-driven analytics and a supply chain mapping tool for compliance offering visibility into upstream and downstream stakeholders and risks
- Gen AI powered Document Classification and Extraction to automate document examination checks and bring in efficiency to processing of core trade products
- Automated Contract Lifecycle Management to create and manage contracts powered by AI
Additional Features
- Connected Trade Gateway to enable secure enterprise-grade connectivity with Buyer/Supplier systems, across FinTechs/ISVs, and with Bank's internal systems
- Ability to deploy services across IT environments with a hybrid by default approach to address data privacy and data sovereignty scenarios.
and much more.
Conclusion:
IBM Connected Trade Platform is purpose-built for the trade finance industry with AI-powered automation, security, and compliance management on an integrated hybrid cloud to de-risk digital supply chain and speed adoption of innovation.
Sources:
https://www.ibm.com/cloud/financial-services
https://ibm.biz/BdeFMn
https://ibm.biz/BdeFMe
https://ibm.biz/BdeFMp
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