Use Case · Trade Finance Automation
Commodity Trade Finance Request Automation
Email request & documents → vetting, parties & vessel checks → sanctions analysis → compliance report
Workflow
Before approving a draw on a credit line for a Trade Finance Request, the bank has to run a series of checks in order to make sure the transaction matches compliance criteria:
- Vetting
- Parties and People
- Vessels
- Sanctions
- …
The Challenge
The Solution
The Challenge
- Efficiency: Running those checks for a single Financing Request can take up to 45mn to an Account Officer.
- Financial Risk : Manually running those checks on many daily requests is error prone, paving the way for massive fines if the bank approves a deal on a sanctioned party, country, commodity…
- Opportunity cost : Often the client sends the same financing request to several banks. The fastest bank to approve the request maximizes the chances of getting the deal.
The Solution
Emmie and the Orchestrator:
- Ingest the bank’s own rules and scenarios
- Capture financing requested and corresponding documents
- Extract relevant information to perform checks
- Run Vetting, Parties, Vessels, Sanctions, … checks against the bank systems (ex: Dun&Bradstreet, Worldcheck, Lloyds…)
- Produce a Request analysis report with Red/Amber/Green status and the corresponding recommendation for the account officer to assess
- Store all the Financing Request Documents and the Analysis Report into the banks Document Management System for archiving and audit purpose.
The Impact / Outcome
- Win more business: Be the first to confirm your client
- Remove financial risk related to manual errors
- Massively improve your team efficiency and enable more client facing value added activity.
