TradeSun Announces an Agreement With Wells Fargo

Rhea-AI Summary

TradeSun and Wells Fargo have signed an agreement to enhance trade finance and compliance processes using TradeSun's AI technology. The collaboration aims to streamline manual processes and improve efficiency in the banking industry.

SAN DIEGO--(BUSINESS WIRE)-- TradeSun and Wells Fargo have entered into an agreement that will enable Wells Fargo to leverage the industry leading trade finance and compliance digitization solution from TradeSun, using Artificial Intelligence (AI) and other advanced technologies to streamline the complex and manual processes employed globally within the banking industry.

TradeSun’s major new release is reinventing trade finance digitalization as it breaks new ground in the world of cognitive data capture and intelligent process automation and takes compliance screening and document checking to new levels. TradeSun’s trade-focused AI will help deliver Wells Fargo’s goals by automating manual processes that will increase capacity to drive new business.

Wells Fargo will utilize the TradeSun AI platform to digitize, extract, validate, and classify unstructured data for use with compliance and document checking.

“Through our voyage with Wells Fargo, we’ve learned how efficiently they operate. I am personally driven to ensure the TradeSun AI platform continues to accelerate their leadership in the market. At TradeSun, we are inspired by Wells Fargo’s decision to invest in this relationship. It is a powerful validation of TradeSun’s innovation in digitizing global trade finance,” said Nigel Hook, Founder and CEO of TradeSun.

“Wells Fargo continues to make significant progress transforming our trade finance and receivables processes. Our agreement with TradeSun gives us the digitization and automation tools to strengthen our risk framework, deliver flawless execution, and provide a world class client experience,” said Cesar Gonzalez, head of Wells Fargo’s Commercial Banking Operations group.

“We are designing and delivering innovative products to serve our clients in a more streamlined way across all channels,” said Kiran Vuppu, head of Wells Fargo’s Commercial Banking Client Insights and Commercial Lending Product Management group. “One way our team is leading this work is by leveraging AI to enhance our clients’ experience and working with TradeSun is a key part of that strategy.”

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 automated trade reconciliation, and first-of-a-kind sustainable transaction scoring using TradeSun’s CoriolisESG solution. Our Global Markets 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.

Additional information at www.tradesun.com
LinkedIn: https://www.linkedin.com/company/tradesun

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo

View source version on businesswire.com: https://www.businesswire.com/news/home/20240415969647/en/

Media relations contact: media@tradesun.com, +1 800 481 3282

Source: TradeSun

FAQ

What agreement did TradeSun announce with Wells Fargo?

TradeSun and Wells Fargo have entered into an agreement to leverage TradeSun's AI technology for trade finance and compliance processes.

How will Wells Fargo benefit from the agreement with TradeSun?

Wells Fargo will utilize TradeSun's AI platform to automate manual processes, increase capacity, strengthen risk framework, and enhance client experience.

What innovative solutions will TradeSun provide to Wells Fargo?

TradeSun will offer digitization and automation tools to improve trade finance processes, compliance screening, and document checking for Wells Fargo.