With approximately $1.9 trillion in assets, the San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution to mitigate risks in its trade finance operations, while also applying its AI technology to harvest, verify and classify unstructured data to the benefit of its compliance and document validation requirements.
Cesar Gonzalez, head of commercial banking operations at Wells Fargo, claims “significant progress” has been made in digitising its trade finance and receivables processes thus far, and that the new partnership with TradeSun “gives us the digitisation and automation tools to strengthen our risk framework”.
