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Surecomp has unveiled a strategic partnership with Pelican AI, a leading international supplier of AI-driven financial crime and compliance solutions, in a joint effort to accelerate the digital transformation of trade risk management

This alliance aims to deliver comprehensive solutions to global financial institutions, targeting specifically the need for more efficient and accessible data within trade documentation.

Through the application of intelligent automation to trade documents, as well as the precise extraction and validation of data in the trade finance cycle, financial institutions utilising RIVO™ will be able to enhance trade productivity. 

This will also lead to a reduction in risk, ensure regulatory compliance, and significantly increase scalability for handling growing trade volumes.

Given the intricate and paper-intensive nature of trade finance, achieving scale in a compliant manner necessitates a level of automation and efficiency only available through digital solutions. For many financial institutions, the key challenge lies in maintaining regulatory compliance whilst fostering growth, without depleting resources.

Parth Desai, CEO of Pelican AI, said, “We are pleased to partner with Surecomp, creating a  unique combination of proven trade finance and compliance expertise with best-in-class  innovation leveraging both Artificial Intelligence and the cloud, while further presenting a  major opportunity to support financial services organizations of all sizes.” 

“We are delighted to welcome Pelican AI as the latest fintech partner to our RIVO™ hub,”  says Enno-Burghard Weitzel, Surecomp’s SVP Strategy, Digitization and Business  Development. “Compliance is probably the number one challenge for banks worldwide and by partnering with Pelican we are enabling them to alleviate the regulatory burden and  provide the necessary data and reports on demand.”