Founded: 2016

Products: A platform including Optical Character Recognition (OCR)​ Engine, Trade Rules Checking Engine, Compliance Checking Engine, and Document Management Engine​

Overview: Traydstream was founded in 2016 by trade finance and corporate technology experts intent on modernising existing antiquated trade finance processes for banks and large corporates.

The current processes of documentary scrutiny behind trade finance are heavily reliant on paper-based data and manual intervention by teams of experienced document-checkers. It is a costly and time-consuming process, beset by inefficiencies and repetition.

Traydstream’s scalable platform uses proprietary OCR technology to digitise documents into a readable format and then applies machine learning (ML) algorithms to check for compliance with international trading rules and regulations. The algorithms are designed by technology and trade experts who have broken down the rules and regulations that govern world trade into programmable clauses, including UCP600 and ISBP rules.

In addition to its industry-first Rules Engine that continues to learn based on document volume and variety, Traydstream also offers a suite of compliance services to aid banks in their assigned task of spotting and preventing financial crimes. These AI-powered products reduce the costs, complexities and timescales of trade finance processing for banks and large corporations.

Traydstream continues to invest in research – and has been awarded multiple grants by Innovate UK, a government funding agency – including working with a leading university and developing advanced new ML techniques to detect specific types of fraud.

Traydstream is also working with a number of banks to provide the solution to their corporate clients so that document discrepancies can be reviewed and agreed by the corporate and bank digitally before physical submission of documents, speeding up the process.

In December 2023, it was announced that Traydstream would partner with Citi, with the aim of streamlining the review and examination of documentation in accordance with documentary credit terms, assisting in mitigating risks, reducing operational load and, ultimately, cost.

Active region(s): Regional hubs in the UK, Africa, Asia Pacific, North America, Europe, India and Pakistan plus global integration partnerships.

Partners: N/a

Employees: 102

Funding: Completed Series A in April 2021. In November 2018 Traydstream raised $3.5m Seed from Gauss Ventures and Tim Dempsey.

Ownership: Private.

Elevator pitch: “Traydstream’s unique AI-powered products transform the costs, complexities and timescales of trade finance processing for banks as well as large corporations. It is also a gateway into a wider ecosystem of additional solutions including Lloyds Informa Vessel Tracking, Refinitiv World-Check and Accuity Fircosoft.

“Utilising an Agile Dev Ops methodology, Traydstream develops regular platform releases throughout the year further enhancing its functionality, improving key performance indicators and refining the user experience. Traydstream is integrating with numerous banking back-end system providers such China Systems, Finstra and Infosys Finacle.”

Website: https://traydstream.com/

Email: [email protected]

Phone: +44(020) 3141 3345

TMI view: In trade finance, paper-based processing is a costly burden, but it is not going away any time soon. This solution aims to lift that burden with a unique combination of tools, even keeping compliance in check.   

Verdict: Trade finance efficiency is a common goal for many businesses. Traydstream obliges with some up-to-the-minute technologies.