Citi has announced a collaboration with Traydstream, a leading trade documentation solution provider, aiming to offer clients access to advanced and automated trade-document processing capabilities.
This collaboration offers clients the chance to utilise a wide range of pre-loaded document types and a unique rules engine, streamlining processing steps. This presents a chance for clients to improve scalability, whilst reducing risks and costs associated with manual processes.
Citi acknowledges the complexities involved in cross-border trade and strives to provide innovative solutions to these challenges through such collaborations. Traydstream offers cloud-based automated document-checking solutions, expediting trade procedures like letters of credit and collections.
In a world where international trade plays a vital role in global economies, the prompt and effective management of documentation is essential. Citi and Traydstream working together aim to simplify the review and examination of documentation in line with documentary credit terms, helping to mitigate risks, lessen operational burdens, and ultimately reduce costs.
Valeria Sica, Global Trade Data, Partnerships and Innovation Head at Citi said, “Citi’s collaboration with Traydstream underscores our commitment to providing clients with the most advanced tools and technologies to facilitate trade. The reliance on paper in the Trade industry needs to reduce and we see the next few years to be transformative for the business as we make our industry more environmentally friendly.”
Sameer Sehgal, CEO at Traydstream said, “We are excited to work with Citi. The Traydstream platform combines cutting edge machine learning capabilities with a distinct rule engine, that constantly learns and evolves, as well as an innovative trade compliance checking solution set. The platform is cloud-based, and deploys security features, while being both vertically and horizontally scalable.”