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Software for International Trade

Financial Services
Customer rating
4.9
This ranking reflects our expertise and success
Software for International Trade

About project

Product vision

A set of FinTech tools and software products was engineered to facilitate international commerce and trade. These international trade software solutions enable importers and exporters to transact with each other in a more transparent and efficient fashion. The umbrella term "trade finance” covers the entire range of IT products that banks and companies apply to make such seamless transactions possible.

duration12 months to MVP
technologies
Python
Scala
Java
Azure
Microsoft SQL Server

Back-end:

Python, Scala, Java

DataBase

Azure, Microsoft SQL Server

Concept illustration
Picture description

The core functionalities of the solutuion make it possible to easily include new parties in transactions and mitigate various supply and payment risks. Namely, they enable exporters to obtain receivables or payments in accordance with an agreement, while importers might be granted extended credit to fulfill an order.

The trade finance solution can be used by:

  • Banking institutions;
  • Insurance companies;
  • Importers and exporters;
  • Trade finance companies;
  • Export service providers and credit agencies.
Concept illustration

Finance instruments and processes covered:

  • Lending lines provided by banking institutions for both exporters and importers;
  • Letters of credit issued to mitigate typical risks associated with global trade;
  • Processing of agreements abided by all transaction parties;
  • Nonpayment risk management by shipping protection and goods delivery insurance.

Andersen's solution delivered:

  • AI functionality to make the filtering process more effective;
  • Automated screening and OCR of documents to facilitate and speed up compliance checks;
  • Integration with a third-party finance software solution to store and share data with trusted partners;
  • Automatically built charts to optimize business processes, performance, and flows;
  • ML-enabled pipeline chain optimization.

25%

lower labor costs due to faster document processing

75%

reduction in unnecessary duplicate invoicing

85%

reduction in the likelihood of human error