TradeSun®, Inc. Teams Up with MarineTraffic Global Ship Tracking Intelligence
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Del Mar, CA – April 8, 2021 – TradeSun launches a strategic partnership with MarineTraffic, the world’s most trusted global ship tracking intelligence cloud-based positioning software.
TradeSun has partnered with MarineTraffic, the world’s leading provider of ship tracking and maritime intelligence to provide an automated trade finance vessel checking solution. The partnership accelerates the processing of trade finance and will help banks meet their compliance and regulatory requirements.
Monitoring vessel movements is at the core of what MarineTraffic does. Building on a base of data gathered from a network of coastal AIS-receiving stations, supplemented by satellite receivers, MarineTraffic provides financial institutions and shipping, trade and logistics industries with actionable insights into shipping activity around the world.
“We are pleased to be working with TradeSun and to provide global AIS data through our Online Services. We believe that the MarineTraffic high reliability and quality of its data gathered, differentiates us in the industry and will help TradeSun and its clients meet the risk and compliance requirements”, said Vlassis Papapanagis, Sales Director at MarineTraffic.
TradeSun has integrated MarineTraffic into its innovative trade finance document processing and compliance screening system, automatically validating vessel data against MarineTraffic’s database, providing crucial insights to users, improving efficiency, internal control, reducing risk and eradicating transcribing errors.
Stanbic Bank of Kenya’s compliance team have seen an immediate improvement in processing time through the use of TradeSun’s compliance checking integration to MarineTraffic.
Nigel Hook, CEO of TradeSun said, “Both companies recognize that integrated technology will open doors in markets which have previously been hampered by the slow, duplicative, and expensive processes needed to complete trade transactions. The TradeSun platform with MarineTraffic will significantly reduce the end-to-end processing time and in parallel reduce human error, helping TradeSun customers fight the battle against trade based financial crime.
Contacts:
About MarineTraffic: MarineTraffic is a leading provider of ship tracking and maritime intelligence. We are dedicated to making actionable information easily accessible. Monitoring vessel movements is at the core of what we do. Building on a base of data gathered from our network of coastal AIS-receiving stations, supplemented by satellite receivers, we apply algorithms and integrate complementary data sources to provide the shipping, trade and logistics industries with actionable insights into shipping activity. With our main offices in Greece, the UK and Singapore, we continue to grow our presence in some of the world’s leading maritime hubs, granting us direct access to the markets we serve. Our reach is truly global, enabling us to support the millions that use our service. For more information, visit www.marinetraffic.com
About TradeSun: TradeSun is an Edison Award winning Artificial Intelligence (AI) trade finance cloud platform for financial institutions, shippers, and corporations, that powers rapid trade finance processing while simultaneously intercepting regulatory, TBML, and fraudulent infractions. TradeSun provides the on-ramp to R3 Corda Enterprise blockchain platforms by combining deep learning and symbolic AI to synthesize information from a wide variety, type and quality of complex trade documents, automating the document checking and compliance for letter of credit, bills of collection, guarantees, open account, and purchase orders. For more information, [email protected] | TradeSun.com
