UK-based AI platform, Traydstream and Standard Chartered Bank have announced their strategic partnership as they look to offer Traydstream’s digital trade document matching services to the bank’s clients.
The services are intended to deliver increased efficiency and transparency to the trade document process, overhauling the manual and time-consuming process currently in place at Standard Chartered.
The bank will refer its clients directly to Traydstream, starting with Singapore, a key global trade export market.
“The Traydstream offering fits well with our emerging markets footprint which generates a significant amount of trade document flows,” says Standard Chartered’s global head of documentary trade, Samuel Mathew.
“Our goal is to help our export clients expedite their receivables and export proceeds, and as a result improve their working capital cycles. This strategic agreement will allow our clients to reduce discrepancies in their trade documents too”, he added.
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Traydstream’s area head in Asia Pacific is looking forward to this “exciting opportunity”; confident the AI Company can “provide cleaner, standardised documents for the end-user, who makes trade transactions more efficient and scalable while mitigating risk”.