Traydstream partners with PFU

Technology Update | 2 August 2017

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Traydstream, one of the latest fintechs to join the race to digitise trade finance processes, has entered into a partnership with PFU Limited.

PFU is a subsidiary of Fujitsu and makes Fujitsu scanners – the company will supplement Traydstream by providing scanning services to digitise physical documents.

Traydstream was launched on 16 July 2017 with the goal of automating the process of scrutinising trade documents, by using machine learning algorithms and artificial intelligence (AI).

“There is a natural synergy between Traydstream and PFU, with the scanning of trade documentation being a fundamental step in the road to trade finance’s automation. We are delighted to be partnering with a world leader in document scanning technology,” said Ray Sherry, Traydstream’s chief technology officer.

Traydstream will use optical character recognition (OCR) software to extract and structure the relevant data from digitised documents, then machine learning algorithms will check the information for any regulatory and compliance breaches.

The fintech has also entered into a data-sharing relationship with Lloyds List Intelligence, the global maritime intelligence provider.

Traydstream will run pilots to test its capabilities in Q3 and Q4 of 2017.

Matteo Bocchi Bianchi, chief knowledge officer and head of strategic partnerships at Traydstream said, “Lloyds List Intelligence make up the most complete body of global maritime intelligence, utilising a unique network of people, coverage stations, and satellite systems; this represents a landmark event in financial regulation and compliance.”

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