Cibar and TradeSun partner to propel innovation in trade transaction processing

Colorado Springs and San Diego, March 21, 2024: TradeSun, the AI leader in global trade, that digitizes trade documentation and automates compliance risk checks in trade and supply chain finance, has begun a partnership with Cibar, a software development company servicing international banking customers in the areas of design, consulting, and development of application software.

The capability to integrate TradeSun into Cibar’s existing front- and back-office services will provide banks with a one-stop solution for real-time compliance, covering trade-based money laundering, dual use goods, fair price, anti-boycott, vessel tracking and sanctions. TradeSun also utilizes optical character recognition (OCR), artificial intelligence (AI) and machine learning (ML) to provide automated document review, significantly reducing overall processing times.

“Cibar has built a reputation of exceptional service to its customers in its 55 years of operation,” said Nigel Hook, Founder and CEO, TradeSun. “TradeSun perfectly aligns with Cibar’s spirit of service and innovation, and we are keen to see the banks derive major return on assets through the TradeSun Intelligence Platform.”

“We are excited to partner with TradeSun, the foremost leader in trade digitization,” said Nick Mayer President of Cibar. “This collaboration brings together Cibar’s best-in-class software solutions with TradeSun’s award-winning AI-powered platform. With Cibar’s expertise in banking software and TradeSun’s innovative technology, this partnership is poised to deliver exceptional value to our existing and future clients”.

About Cibar
Cibar Incorporated is a software development company located in Colorado Springs, Colorado. Founded in 1969, Cibar has a broad range of experience in developing software applications for international banking customers, including: Commercial and Standby Letters of Credit, Bankers’ Acceptances, Documentary Collections, Foreign Loans, Cash Letters, International Wires, Imaging, OFAC and AML checking.

Cibar has more than 40 years of experience in working with financial service organizations in the areas of design, consulting, and development of application software. With an average employee tenure of 18 years Cibar has an in-depth knowledge of all aspects of banking and technology; and is the de-facto leader in Trade Finance automation with over 500 man-years of experience.

About TradeSun
TradeSun is the AI leader in global trade. Our TradeSun Intelligence platform digitizes documents and significantly increases productivity by automating real-time compliance for financial crime and sanctions risks. Our platform performs trade reconciliation and first-of-a-kind automated sustainable transaction scoring using our CoriolisESG solution. Our Global Trade Explorer is designed to fully assimilate the transaction data and deep tier supply chain information, on over 460 million companies, to help customers both de-risk their supply chain with alternative sources and enlighten new markets to boost sales. TradeSun AI technology is reducing processing costs, enhancing compliance screening and empowering the sustainable trade and supply chain ecosystem for banks and corporations.

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