Conpend’s TRADE AI app is available on Finastra’s open development platform FusionFabric.cloud. The app builds on the functionality of Finastra’s trade innovation technology by reducing the burden of manual document and compliance checking. Adding TRADE AI to Finastra’s FusionStore complements the Finastra philosophy of providing open and collaborative solutions and technology. It also bolsters the company’s comprehensive trade finance and supply chain finance processing engine.
Iain MacLennan, VP, Trade and Supply Chain Finance at Finastra said: “The Conpend TRADE AI app has tremendous potential to bring greater efficiency to the trade finance world. In some instances, Conpend has already seen its solution reduce document checking time from up to two days to 10 minutes, and now we are able to bring this to Fusion Trade Innovation customers, via our platform. In collaboration with Conpend we are continuing to bring innovation to this sector to enable our customers to digitize processes and drive down costs.”