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Cleareye.ai
The Perfect Digital Transformation Enabler for Banks
Murali Gopalan, Co-Founder, CEOFounded by veterans with years of entrepreneurial and digital systems experience, Cleareye.ai helps banks become more responsive to consumers and increasingly agile in launching innovative products to the market to be ahead of the curve. The company offers a unique platform that combines artificial intelligence and quantum-inspired algorithms to improve banks’ efficiency and productivity significantly. The innovative platform comprises advanced cognitive tools for enhanced customer experience, streamlined execution of operations that leads to simplified banking, and improved compliance.
Mariya George, Co-Founder, President & Chief Sales OfficerWe marry customer experience and risk management to simplify banking through our outcomes-driven platform
With Cleareye.ai platform, banks can communicate with their customers through their channel of choice. This allows banks to build stronger relationships with customers, understand their unique requirements thoroughly, and introduce products that matter to them at their point of need.
Cleareye.ai achieves this by bringing artificial intelligence to mundane operations, so that banks can focus on their core purpose. The platform has multiple components designed for capabilities like advanced document ingestion, market intelligence sensing, fraud detection, user experience sensing and scoring, vision, speech to text, among others. These are applied to KYC, regulatory compliance (LIBOR transition), operational risk management, lending and loan processing (secured and unsecured), fraud identification, and many other functions. Its conversational AI capability can be a digital assistant for bank’s customers.
While onboarding a client, Cleareye.ai undertakes a consultative approach to understand their specific pain points and provides them with solutions that best fit their needs. In a nutshell, it empowers banks to explore opportunities through data-driven insights.
Cleareye.ai News
Cleareye.ai reinforces strategic collaboration with Microsoft to enhance trade finance with hybrid AI on Microsoft Azure
Lloyds and Cleareye Launch AI-Centric Trade Finance Partnership
Lloyds Bank has launched a collaboration with artificial intelligence (AI) platform Cleareye.ai.
The partnership, announced Tuesday (Sept. 3) and said to be the first of its kind in the U.K., will use AI to streamline processing and compliance checking for trade finance documentation. The effort will use Cleareye.ai’s ClearTrade technology and is set to be implemented from this month, the companies said in a news release provided to PYMNTS.
“The advanced technology will use optical character recognition (OCR), machine learning, and natural language processing algorithms to extract critical information from trade documentation,” the release said. “This includes digital and paper-based import and export documentary letters of credit, documentary collections, undertakings and trade loans.”
In addition, the AI-powered tech will carry out automated examinations of documents — in keeping with the International Chamber of Commerce Rules for Documentary Credits and Collections — along with critical compliance checks, including trade-based money laundering (TBML) checks, the release said.
“We’re continually looking for ways to help our clients trade simpler, faster and more efficiently and our partnership with Cleareye.ai enables us to deliver this,” said Rogier van Lammeren, head of trade and working capital products at Lloyds Bank Commercial Banking.
“Using their AI technology, we will streamline critical parts of trade finance processes that we know are important to our clients.”
As PYMNTS wrote earlier this year, AI has emerged as a tool for companies looking to navigate an increasingly complicated regulatory landscape, offering solutions that improve efficiency, accuracy and effectiveness in compliance management.
“Traditional methods of compliance management often fall short due to their reliance on manual processes and retrospective analysis,” that report said.
“These approaches are not only time-consuming but also prone to human error and inefficiencies. This is where AI steps in, transforming compliance management from a reactive to a proactive discipline.”
Lloyds last month named Amazon Web Services veteran Rohit Dhawan to oversee its AI Center of Excellence and driving adoption of AI-powered products and services for the bank.
“Rohit’s appointment is a significant boost for the strategic development of AI technology and capabilities within Lloyds Banking Group, with his wealth of experience delivering technology and change, at pace and scale,” Ranil Boteju, the bank’s chief data and analytics officer, said in a news release.
“Rohit will work across the business to further integrate AI outcomes into business priorities, helping us to scale AI in a consistent way and deliver against our strategy.”
The partnership, announced Tuesday (Sept. 3) and said to be the first of its kind in the U.K., will use AI to streamline processing and compliance checking for trade finance documentation. The effort will use Cleareye.ai’s ClearTrade technology and is set to be implemented from this month, the companies said in a news release provided to PYMNTS.
“The advanced technology will use optical character recognition (OCR), machine learning, and natural language processing algorithms to extract critical information from trade documentation,” the release said. “This includes digital and paper-based import and export documentary letters of credit, documentary collections, undertakings and trade loans.”
In addition, the AI-powered tech will carry out automated examinations of documents — in keeping with the International Chamber of Commerce Rules for Documentary Credits and Collections — along with critical compliance checks, including trade-based money laundering (TBML) checks, the release said.
“We’re continually looking for ways to help our clients trade simpler, faster and more efficiently and our partnership with Cleareye.ai enables us to deliver this,” said Rogier van Lammeren, head of trade and working capital products at Lloyds Bank Commercial Banking.
“Using their AI technology, we will streamline critical parts of trade finance processes that we know are important to our clients.”
As PYMNTS wrote earlier this year, AI has emerged as a tool for companies looking to navigate an increasingly complicated regulatory landscape, offering solutions that improve efficiency, accuracy and effectiveness in compliance management.
“Traditional methods of compliance management often fall short due to their reliance on manual processes and retrospective analysis,” that report said.
“These approaches are not only time-consuming but also prone to human error and inefficiencies. This is where AI steps in, transforming compliance management from a reactive to a proactive discipline.”
Lloyds last month named Amazon Web Services veteran Rohit Dhawan to oversee its AI Center of Excellence and driving adoption of AI-powered products and services for the bank.
“Rohit’s appointment is a significant boost for the strategic development of AI technology and capabilities within Lloyds Banking Group, with his wealth of experience delivering technology and change, at pace and scale,” Ranil Boteju, the bank’s chief data and analytics officer, said in a news release.
“Rohit will work across the business to further integrate AI outcomes into business priorities, helping us to scale AI in a consistent way and deliver against our strategy.”
Cleareye.ai, a leading provider of AI-powered document processing solutions for Trade Finance today announced a collaboration with Microsoft to use the combined power of Microsoft’s Azure AI platform and Generative AI (Gen AI) capabilities to tackle the most complex challenges within the Trade Finance industry.
A hybrid approach for breakthroughs:
This collaboration represents a significant shift in Trade Finance automation. Cleareye.ai’s Trade Finance platform, ClearTrade®, will work together with Microsoft Azure to enhance trade finance, by delivering solutions that offer accuracy, efficiency, and security. However, the true innovation lies in our relationship’s focus on building generative AI experiences. By carefully blending the strengths of prebuilt and curated models from Azure OpenAI Service with Cleareye’s domain and technical expertise, we bring advanced and comprehensive solutions for trade finance to the market.
A symphony of innovation: Cleareye.ai and Azure AI platform
This collaboration brings together the best of both worlds:
Azure: provides Cleareye.ai with scalability, security, and access to a vast array of AI services via its platform. Azure’s robust compute, storage, and monitoring capabilities ensure seamless operation and reliable data management.
Cleareye.ai’s proprietary AI models, honed through years of experience in Trade Finance, deliver accuracy and efficiency in document processing and data extraction.
The Power of Hybrid AI: Open and closed models
Cleareye.ai and Microsoft are exploring a hybrid AI approach, strategically combining the strengths of closed and open models:
Closed models: Cleareye.ai’s pre-trained AI models, optimised for specific Trade Finance tasks, ensure consistent performance and compliance.
Open models: Microsoft’s Azure AI platform, including Azure OpenAI Service, brings flexibility and adaptability to address the ever-evolving complexities of Trade Finance.
This hybrid approach allows Cleareye.ai to:
Tackle complex use cases: By using the power of Azure AI Services Cleareye.ai can address previously intractable challenges in Trade Finance, such as nuanced document analysis and anomaly detection.
Deliver accuracy: Cleareye.ai’s closed models ensure consistent high accuracy, while Azure OpenAI Service models continuously learn and refine, leading to ever-improving performance.
Mariya George, Co-Founder & Chief Executive Officer at Cleareye.ai said, “This collaboration with Microsoft represents a paradigm shift for Trade Finance automation. By combining the power of Microsoft’s Azure AI platform with the potential of Gen AI, we are on the verge of achieving significant breakthroughs. This hybrid approach will unlock a new era of efficiency, accuracy, and innovation for the entire industry.”
Peter Hazou, Director, Business Development, Financial Services at Microsoft sayid, “We are pleased to collaborate with Cleareye.ai to unlock the potential of AI in Trade Finance. By using the combined strengths of Microsoft’s Azure AI platform and Cleareye.ai’s expertise, we are committed to delivering a robust solution for our customers, enabling them to navigate the complex world of Trade Finance with greater confidence and agility.”
This collaboration represents a significant leap forward for Trade Finance automation. By harnessing the power of AI and the robust capabilities of the Azure AI platform, Cleareye.ai and Microsoft are poised to deliver a future-proof solution that empowers businesses to operate in a more efficient, secure, and innovative trade landscape.