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Wells Fargo partners with TradeSun to digitize trade finance

TradeSun and Wells Fargo have announced a partnership aimed at improving trade finance and compliance processes within the banking industry.

Under the agreement, Wells Fargo will leverage TradeSun’s trade finance and compliance digitalization solution, which leverages AI and other advanced technologies to streamline complex processes.

Through the partnership, TradeSun’s AI platform will be used by Wells Fargo to digitize, extract, validate and classify unstructured data for compliance and document control purposes. This move is expected to automate manual processes, increasing operational efficiency and the capacity to drive new business opportunities.

TradeSun and Wells Fargo have announced a partnership aimed at improving trade finance and compliance processes within the banking industry.

TradeSun representatives welcomed the partnership and emphasized the company’s commitment to accelerating Wells Fargo’s leadership in the market through innovative digitalization solutions. Meanwhile, representatives from Wells Fargo’s Commercial Banking Operations group emphasized the importance of the agreement in strengthening the bank’s risk framework and delivering a superior customer experience. They reiterated the bank’s focus on using AI to improve customer experience, and positioned the partnership with TradeSun as a key part of their strategic approach.

TradeSun is described as a leader in AI-driven global trading solutions. Their TradeSun Intelligence platform provides document digitization and automates compliance processes for financial crime and sanctions risk. Additionally, TradeSun’s technology facilitates automated trade reconciliation and sustainable transaction scoring, with the aim of improving supply chain visibility and risk management for banks and corporations.