Document Consistency Checker

Out-of-the-box accelerator for
Trade Finance

Any Trade Finance deal is accompanied with heavy paper work involving the buyer and the seller, with the bank or banks acting as the intermediaries to hedge-off the financial transaction risk. These documents are received in multiple formats, such as paper copies, email, fax, e-documents, document sharing portals, etc. Document tracking and document consistency checking being a time consuming manual activity constitutes a major portion of these trade finance transactions. It mandates the executives’ manually validate and key in the data in the core banking and trade finance systems.

Document Consistency Checker (DCC) is Datamatics solution for extracting data from long winding documents, validating the extracted data as per pre-defined rules and artificial intelligence (AI) algorithms, and integrating it in the core systems.

DCC automates the document scrutiny, which needs to be done for every trade transaction. Today, the scrutiny is done manually in majority of banks and takes ~ 2-3 hours to completely review all the documents based on the standard international trade rules, such as consistency checks, UCP600, ISBP 745, incoterms etc. With DCC, significantly reduces the turnaround time and enables Straight Through Processing.

The DDC module is technology agnostic and can easily integrate the extracted data with any banking or trade finance system, content management system, and compliance management system. With a team of certified professionals and banking veterans at the helm of design and development, the DCC is a complete solution in itself that extracts, analyses, and integrates data related to Trade Finance deals with the business systems.