Citi Collaborates With Traydstream to Streamline Document Services for Faster and More Effective Client Solutions
04 Dezembro 2023 - 6:00AM
Business Wire
Citi has today announced it will collaborate with Traydstream, a
leading provider of innovative trade documentation solutions to
provide clients with access to a cutting edge and automated
trade-document processing capability.
The collaboration provides clients with an opportunity to
leverage a vast array of pre-loaded document types and an
innovative rules engine that automates the processing steps. The
result is an opportunity for clients to make a step change in
scalability, reducing manual process risk and cost along the
way.
Citi recognises the complexities and challenges faced by
businesses engaged in cross border trade and is committed to
delivering innovative solutions to address them through innovative
collaborations. Traydstream provides cloud-based automated document
checking solutions that help accelerate previously time-consuming
trade procedures, such as letters of credit and collections.
In a world where international trade is crucial to global
economies the timely and efficient management of documentation is
imperative. Working together, Citi and Traydstream will look to
streamline the review and examination of documentation in
accordance with documentary credit terms, to assist in mitigating
risks, reducing operational load and, ultimately, cost.
“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,” said Valeria Sica, Global Trade Data,
Partnerships and Innovation Head at Citi.
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.”
About Citi
Citi is a preeminent banking partner for institutions with
cross-border needs, a global leader in wealth management and a
valued personal bank in its home market of the United States. Citi
does business in more than 160 countries and jurisdictions,
providing corporations, governments, investors, institutions and
individuals with a broad range of financial products and
services.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube:
www.youtube.com/citi | Facebook: www.facebook.com/citi
About Traydstream
Traydstream’s modular technology extracts data intelligently,
using AI and optical character recognition. It slashes the time to
complete checks on the dozens of documents generated by a single
transaction, using a machine learning based engine to check against
the underlying trade transaction with over a quarter million rules
permutations.
Designed and built by leading individuals from the banking and
technology communities, Traydstream’s document checking platform
makes the document processing journey scalable and profitable in an
increasingly complex and costly trade finance environment.
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version on businesswire.com: https://www.businesswire.com/news/home/20231204508925/en/
Richard Bicknell, richard.bicknell@citi.com
Citigroup (NYSE:C)
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