Wall Street bank JP Morgan has made a strategic investment in a fintech company specialising in trade finance.
The platform, Cleareye.ai, aims to automate as much of the trade finance process as possible, including compliance and document analysis. JP Morgan is already a customer of Cleareye, and for the past year it has been mapping data using the y’s ClearTrade platform.
The trade finance market is currently undergoing a digital transformation in an effort to reduce the amount of manual processes in what is a heavily paper-based market. This coincides with the strategic alliance between Cleareye and JP Morgan’s trade and working capital group.
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