Asseco banking platform with Global Finance's award
Asseco Enterprise Banking Platform- Digi Trade has won the "Best Trade Finance Provider 2020" title awarded by the editors of the Global Finance magazine. Asseco's system has won in the "World's best use of artificial intelligence in trade finance" category.
Asseco Enterprise Banking Platform - Digi Trade has been recognized in the category of products using artificial intelligence. The solution is a response to the growing trend of using the OCR (Optical Character Recognition) technology in Trade Finance. With OCR support, the application enables, among other things, quick and effective recognition of invoices and commercial documents, and simplifies the decision making regarding granted limits.
It is estimated that currently the operating costs of banks in the Trade Finance area amount to USD 12-16 million. Digitization of processes may reduce them to USD 8-13 million in 3-4 years, said Marta Mróz-Sipiora, Product Manager, Asseco Poland. For this cost reduction to be possible, banks will need modern solutions, such as the Asseco Enterprise Banking Platform - Digi Trade, which allows, among others, for secure and fast electronic transfers of orders, interactive communication with bank employees and has individual document templates, she added.
The winners of "Trade Finance and Supply Chain Finance Awards 2020" are selected from among banks and service providers from 94 countries.