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Compliance and AML
for banks

Compliance failures for banks have led to US$1 billion-plus fines and enormous reputational damage. Yet compliance is time-consuming and expensive, especially on paper-based trade documents. Conpend simplifies the process by using AI and machine learning to automate document checking while allowing compliance professionals to analyze and resolve any issues raised by the app.

Conpend’s TRADE AI app enables documentation checking against current AML, KYC and sanctions regulations – empowering operatives, compliance officers and relationship managers by eliminating many of the manual processes associated with AML compliance. With a built-in audit trail, the app allows banks to easily evidence the checks that have taken place for regulatory reporting purposes.

Conpend stands as an advocate for the digitalization of trade finance documentation, without compromizing on its strategy to automate processes based on customers’ needs and the resources they already have. We are actively involved in ICC’s Digitalization Working Group and the Marco Polo Payment Commitment solution, while supporting the implementation of ITFA standards – with the aim of radically reducing the operational burden of documentary trade finance and articulating the concrete changes needed to drive the digitalization of trade finance documentation further.

See also KYC compliance