Dutch financial institution ABN Amro is collaborating with the artificial intelligence platform Complidata to enhance and streamline its trade finance operations.
The bank plans to implement Complidata’s TradeSpeed solution globally for its documentary trade finance activities, which include letters of credit and documentary collections. Traditionally, these processes have relied heavily on manual tasks involving paper documents, such as bills of lading and invoices.
According to the vendor, TradeSpeed leverages advanced AI techniques, including large language models, to facilitate a higher degree of digital integration in trade finance operations. This partnership represents one of the pioneering applications of these models in the trade finance sector.
Burak Aslan, ABN Amro’s lead product owner for trade finance, commented, “TradeSpeed will enable our operations team to concentrate on strategic decision-making, rather than getting bogged down in time-consuming manual tasks. This shift will enhance our capacity to deliver value-added services to our clients.”
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