Developed by banking seniors and technology veterans, new FinTech innovator Traydstream is launched to automate the scrutiny of trade documentation using a mixture of machine learning algorithms and AI (Artificial Intelligence) to reduce processing times from a matter of hours or days to minutes.
Geared for integration with Blockchain, Traydstream intends to deliver smarter and safer processing on a big scale.
Uzair Bawany, Achille D’Antoni and Gary Bhattacharjee are highly experienced professionals from the commercial banking, financial services and technology communities who in 2015 came together to form this radical new proposition.
Presiding over a period of seismic technological change within the banking sector, they were struck by Trade Finance’s resistance to reform and together hatched a plan to redefine Trade Finance processing.
They have put together a team of experts who are all equally committed to automating the time and labour intensive processes of Trade Finance.
Despite a drastic rise in Trade Finance’s importance to the global economy, with WTO now estimating that “some 80-90 per cent of world trade relies on Trade Finance”, the sector had not received the technological advancement it desperately needed.
With the ushering in of the so-called 4th industrial revolution all sectors and industries are undergoing a radical digital transformation, and Traydstream are staking their claim to be the frontrunners leading Trade Finance’s digital revolution.
Over the past two years the platform has been diligently designed and built between London, Milan, New York, Dubai and Calcutta, with the aid and insight of senior bankers, trade gurus and technology experts.
With core development nearing completion and transferring to future innovation such as Blockchain and vessel tracking, efforts have been turned in the past three months to driving the platform to market, with extremely exciting results so far: “We’ve been bowled over by the response”, Mr Bawany stated, “clients begin sceptically, but end up super impressed. Trade has unfortunately been stuck in a time warp. It’s time for it to catch up.”
The company has secured its first pilots with banks and is in the advanced stages of closing out mandates with a number of the largest banks and corporates globally.