Deutsche Bank to automate trade document checking with Traydstream

Deutsche Bank partnered with trade finance software provider Tradstream to automate document checks for trade finance products.

Deutsche Bank Partner Tradstream

According to Traydstream, the partnership will boost the bank’s efforts to digitize and automate its documentary trading operations, “enhancing control, ensuring scalability for profitable growth and ultimately credit We will improve the experience of our corporate customers in business operations.

The two companies are collaborating on a pilot of an automated trade document checking platform from July 2021 onwards, with plans to roll out the platform globally thereafter.

Claudia Hussey, head of trade finance product and process management at Deutsche Bank, said the partnership will “strengthen” the bank’s trade finance services and streamline processes for its global documentary trade operations.

Tradstream recently released the 2.0 version of its platform with features such as increased speed, improved accuracy for data extraction and classification models, and integration of third-party providers for compliance checks.

Additional updates to the platform include enhanced workability checks across all available documentation, cloud-native architecture, and a new user interface.