TradeSun

05/03/2024

In the news!!

TradeSun and Wells Fargo have entered into an agreement that will enable Wells Fargo to leverage the industry leading trade finance and compliance digitization solution

05/03/2024

⚡Great to have our partnership with Wells Fargo listed among announcements from big hitters like OpenAI, Mastercard and Meta

🔥Wells Fargo joined forces with TradeSun Inc. to digitise and automate its trade finance operations, while the Finastra partnership aims to infuse AI-driven ESG insights into banks' trade finance business

Read the full Future of Fintech Newsletter here: https://lnkd.in/dkHVA7cy

10/27/2022

Kenya deals with several “grey” listed countries, as specified by the Financial Action Task Force, putting pressure on trade compliance and operational teams.

We are pleased to be co-running a session next week that focuses on trade compliance across the country and brings together experts from Stanbic Bank Kenya, Compliance Society of Kenya, NCBA Group, and The London Institute of Banking & Finance.

Register here: bit.ly/3N8KQFW 🙂

As global trade volumes increase, the number of complex trade documents grows, with the typically manual processes used to inspect these documents weighing down banks and companies across Kenya. Additionally, Kenya deals with several “grey” listed countries, as specified by the Financial Action ...

10/07/2022

For the world of trade, beneficial ownership information is essential in understanding the ultimate beneficiaries in a transaction, with the sector too often used as a mechanism for financial secrecy and money laundering, writes the TradeSun team.

The US is pressing on with beneficial ownership reporting in an attempt to crack open the shell companies used to hide ill-gotten gains

08/26/2022

Global financial secrecy deeply undermines Africa and its development.

Part of the problem banks face is clients with complex company structures, which can be used to hide the true beneficiary of funds. 🔍

Complex corporate and blurry beneficial ownership structures are fueling financial crime risks in South Africa and beyond

08/11/2022

As concerns around sustainability have grown exponentially, the focus on how to measure environmental, social and governance (ESG) risks has swiftly sharpened for the global trade community. 🔎

Only recently, UK regulators warned that companies may face action if they gloss over their climate-related risks, in a signal of how authorities may choose to steer the sustainability agenda for business in coming years, writes Nigel Hook, TradeSun CEO, for Financial IT.

The only way to ensure the transparency of climate – and, more generally, ESG – risks facing businesses involved in and beyond is through thoughtful interpretation of data that enables factual, fastidious, and fair reporting.

For more 👇
bit.ly/3bN3cOs

08/08/2022

📢 We were delighted to announce our partnership with Coriolis last week. Read more in The Fintech Times:

TradeSun and Coriolis Technologies have partnered to launch a solution for banks to score their ESG performance across trade transactions.

07/27/2022

“Criminal organizations continue to target global trade finance because its complex and siloed nature provides negligible transparency,” writes Nigel Hook, TradeSun CEO.

As the Financial Action Task Force pointed out in a report last week, banks have only a partial view of transactions and see one small piece of what is often a large, complex puzzle, with malign actors exploiting this information gap. 🧩

Read about why “smarter” data sharing that is secure, seamless and anonymous will be the only way to curb illicit activity in trade.👇
bit.ly/3zbFKSD

07/13/2022

Regulatory scrutiny of maritime trade and deceptive shipping tactics to evade sanctions have been growing, reports Global Trade Review. 🚢

Nigel Hook, TradeSun CEO, spoke with GTR about tackling illicit activity in maritime trade with technology.

“Because we have access to the transactional data, we know the parties involved in the transaction, the vessel name, the port of loading and discharge, the cargo information and the transaction dates. When you couple this with ship tracking, ownership and sanctions data we can determine if compliance requirements have been met,” he said.

Read more: bit.ly/3P6vhP4

07/01/2022

The economic and social benefits of gender-inclusive trade are clear – yet financing and trade gender gaps remain pervasive and stubborn.

Read the latest from the TradeSun team👇

The economic and social benefits of gender-inclusive trade are clear – yet financing and trade gender gaps remain pervasive and stubborn.