Turn manual, error prone and costly loan documentation processingto faster, smarter, and accurate with KlearStack.
The use of paper documents in Trade Finance is immense, it is estimated that billions of pages and documents circulate in documentary trade alone. Longer transaction time as physical paper is used across the transactions and all stakeholders. Manual review of terms& conditions against the trade document or Credit limit check, are very time consuming & error prone.
Higher manual compliance costs for trade related compliance such as Basel 3, Anti Money Laundering (AML), Counter Terrorism Funding (CTF). Data extraction from application forms, bills of exchange, commercial invoices, transport documents, insurance documents, purchase orders and debit/credit notes, and statements is manual and very labour-intensive.
Ability to quickly extract data from trade documents and validate trade information, would enable faster decision making, sustained trade finance business.