Cleareye.ai Announces Strategic Alliance with J.P. Morgan

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    New York, United States:
     

    Cleareye.ai declares a brand new international strategic alliance with J.P. Morgan’s Trade and Working Capital group. The alliance leverages an industry-leading digital answer, ClearTrade, to resolve each the challenges Trade Finance operations face at this time and tomorrow. Through important advances in know-how, the ClearTrade platform streamlines the onerous due diligence processing related with Trade Finance transactions and the multitude of bodily paperwork which might be nonetheless prevalent within the {industry} at this time.


     

    Trade Finance is an {industry} going by a digital transformation. The ClearTrade answer presents a revolutionary change for banks to make sure they’ll proceed to function on this evolving panorama plagued with a considerably growing price base.


     

    Over the previous 12 months, ClearTrade has been built-in into J.P. Morgan’s Trade Processing System and is now dwell supporting transactions within the APAC area, with a worldwide rollout deliberate over the approaching quarters. Through this initiative, J.P. Morgan will be capable to additional leverage the digitizing of paperwork utilizing highly effective picture processing options with the flexibility to extract, validate and precisely classify unstructured knowledge. This stage of digitization permits for:


     

    • Smart interpretation of knowledge and paperwork to automate letter of credit score doc examination
    • Contextual and configurable guidelines engine to complement present Uniform Customs and Practice for Documentary Credits and International Standard Banking Practice guidelines
    • Identification of trade-based cash laundering and sanctions purple flags
    • Seamless integration into any present Trade Finance back-office platforms


     

    Cleareye firmly believes that the ClearTrade answer has the aptitude to extend Trade Finance operations productiveness by as much as 70%. Through the automated examination of hundreds of commerce shows, together with each {industry} widespread and non-standard doc sorts, the answer has demonstrated as much as 9x enhance in commerce velocity, important discount in doc checking errors, larger than 85% accuracy requirements and as much as 80% discount in E2E processing time.


     

    Stuart Roberts, Global Head of Trade & Working Capital for J.P. Morgan says: “Digitizing trade finance documentation has the ability to provide real benefits to J.P. Morgan and our clients. Banks have grappled to solve the puzzle of paper and manual data entry in this business for many years and our alliance with Cleareye is taking meaningful steps towards solving the problem. The ClearTrade platform also helps us to accelerate and future-proof our clients’ business while reinvesting savings into enhancing controls and risk management.”


     

    Mariya George, CEO and Co-founder for Cleareye, states: “J.P. Morgan maintains a gold standard for digital innovation while ensuring regulatory needs are met, and we are very excited about the ClearTrade implementation and go-live. This also reinforces the strategic alliance between our firms and the vision to digitize trade operations for banks across the globe.”


     

    About Cleareye.ai Cleareye.ai is a sophisticated Artificial Intelligence & Machine Learning platform that permits banks to launch merchandise at a fast tempo. Headquartered in California with workplaces in New York, Bahrain and India, the corporate goals to simplify banking. The platform leverages know-how breakthroughs with a totally automated doc processing layer, unified ML lifecycle administration, knowledge administration, mannequin governance and dynamic guidelines engine leveraging NLP. This will rework banks into hyper agile organizations, that clients wish to financial institution with and delivers distinctive customer support, drive brief time period features and long-term development, and generate insights to maintain momentum at digital scale. Cleareye.ai was based by leaders in international know-how, representing many years of entrepreneurial and digital methods expertise in banking. For extra info, go to www.cleareye.ai


     


     






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