Redefined trade finance banking operations in the digital age using Persistent Digital Operations to empower employees and transform customer experience.
Challenges
Keeping a trade finance business profitable is challenging with advanced legal scrutiny and increased regulatory compliance.
The customer bank therefore set a strategic goal to achieve profitability by automating and digitizing functions that support trade finance and address current challenges:
- Long turnaround times and high costs to serve each customer
- A traditional business process that relied on manual intervention and activities for document validation on paper and often led to errors
- Inability to receive insights on data and transactions to help make faster and more informed decisions.
- Huge operations team working round the clock to support global trade finance operations.
Solutions
The bank leveraged Persistent’s Text.AI solution that automates the digitization of documents of different sizes, layouts, formats and quality of print and create valuable assets out of them. Our customized business process management solution leverages cutting edge AI, ML technologies and Robotic Process Automation, Natural Language Process capabilities.
