J.P. Morgan’s Trade and Working Capital group makes strategic investment in Cleareye.ai to fuel the growth of trade digitalization across trade finance industry
Cleareye.ai, Inc., the provider of a category-leading digital trade finance solution ClearTrade, for digital automation of trade compliance and operations, announced it has secured a strategic investment from J.P. Morgan. The ClearTrade Platform, built to revolutionize trade finance, is a leading provider of smart interpretation of data and documents in trade to identify TBML and Sanctions red-flags, automating expert labor-intensive manual checking processes, powered by a state-of-the-art document digitization engine with the ability to extract, validate, and accurately classify unstructured data.
James Fraser, Global Head of Trade & Working Capital for J.P. Morgan says: “Future proofing trade operations has been at the forefront of J.P. Morgan’s digital strategy in Trade & Working Capital. A manually intensive industry loaded with paper and lacking standardization, burdened by an increasing cost base, needs real innovation in order to transform. We are delighted to invest in Cleareye.ai as they deliver this innovation through meaningful solutions for us and our global financial institutions clients.”
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Mariya George, CEO and Co-founder for Cleareye, states: “We are thrilled to increase our work with J.P. Morgan, leveraging their investment to reinvest in our technological innovation, bringing expert solutions powered by Artificial Intelligence to the forefront of banks’ digital strategies. We continue to reinforce our commitment to the industry by rolling out global solutions which enhance our clients’ operational efficiency.”
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In addition to the investment, Cleareye.ai is working with J.P. Morgan’s Trade and Working Capital to continually enhance its offering, maintaining a gold standard in digital innovation from which all trade finance banks can benefit.
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