GBC innovates trade finance processing with TradeSun AI Platform

Del Mar, CA – January 25, 2022 – GBC International Bank and TradeSun have announced an agreement to revolutionize the bank’s trade finance operations and compliance with the deployment of TradeSun’s AI-powered platform.

As part of the bank’s digitization journey, GBC, the award-winning California-based bank, will use AI to automate and accelerate the review of trade finance documentation, including letters of credit, bills of lading, negotiation and advising, reducing processing time from days to minutes. The benefits will allow GBC to increase trade bandwidth and enable staff to focus on higher-value, customer-focused tasks, fueling growth and reducing risk.

TradeSun’s market-leading AI platform is a one-stop solution designed and built by industry experts. It provides banks and corporates with real-time financial crime compliance, integrating global regulatory requirements and controls such as counter fraud, trade-based money laundering checks, watchlist screening, dual use goods identification and vessel tracking with comprehensive audit trails, reporting and analytics.

Richard Holmes, CFO of GBC International Bank, said: “GBC is excited for the opportunity to take advantage of the benefits that artificial intelligence bring to banks like ourselves and to partner with TradeSun in the use of its AI trade finance platform. We anticipate this partnership will position GBC as a front runner and innovator in the area of trade finance and document processing.”

Nigel Hook, CEO of TradeSun, said: “We are delighted that GBC International Bank is partnering with us and joining the group of banks across the globe in using AI to automate, streamline, and improve their document processing and compliance. Our team of experts are dedicated to helping banks’ operational and compliance teams in using intelligent technology to accelerate efficiency, which is crucial in the fight against fraudulent activity.”

 

Contact
Maddy White
Communications
mwhite@tradesun.com; info@tradesun.com

 

About TradeSun: TradeSun is an innovator and leader in trade digitization. Our award-winning AI-powered platform for trade finance processing and compliance empowers our customers to reduce risk and fuel growth by leveraging state-of-the-art technologies. The TradeSun Platform is a one-stop solution that offers real-time compliance, covering trade-based money laundering, dual use goods, fair price, vessel tracking and sanctions. It also automates document review, significantly reducing processing times. Our executive team consists of highly experienced trade and technology professionals from many leading financial institutions: TradeSun.com

About GBC International Bank: GBC is a community focused business bank with a tradition of serving and solving the complex banking and lending needs of our customers. Our history is rooted in a tradition of customer loyalty and serving those that need us most, including the diverse population within the communities we serve. For more information: GBCIB.com

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