Surecomp, a provider of trade finance systems to banks and corporates, has signed a partnership agreement to integrate’s artificial intelligence (AI)-based trade compliance solutions onto its Rivo platform.

Launched in May 2022, Rivo is set up as a collaborative digital hub that provides open API access to importers, exporters, banks, insurers, shipping companies and solution providers, in an attempt to stitch together the patchwork of disparate digital trade and trade finance solutions into one centralised offering.

In all, five compliance solutions providers are now integrated onto the Rivo platform, including Traydstream,, Complidata, Conpend and Semsoft.

Other third-party solutions available on the platform include the Global Legal Entity Identifier (LEI) Index and Swedish fintech Enigio’s trace:original digital trade finance documentation product.

Through the latest partnership, Rivo users will have access to Cleareye’s technology, which uses AI and machine learning to streamline processes in collections and documentary credits.

For instance, it uses AI and machine learning to classify trade finance documents, extract and validate relevant data, conduct critical sanctions screening as well as anti-money laundering checks, and ensure compliance with ICC rules such as UCP600, ISBP745 and URC522.

According to Surecomp, the partnership will reduce processing times and compliance risks, and “ultimately, it increases the banks’ ability to scale and manage growing volumes of trade efficiently”.

“Banks continuously need to stay ahead of the ever-changing patterns in illegal trade behaviour. Embedding AI-based compliance checks into the trade finance transaction is a prime use case for bringing artificial intelligence to banks’ day-to-day operations,” says Enno-Burghard Weitzel, Surecomp’s chief solutions officer.

As an example of how the partnership will work, when an exporter submits its documents under a letter of credit (LC), a bank must check the information provided, such as the invoice, shipment date and route, aligns with the original LC terms.

Subsequently, they must also check information presented in the document is compliant with a sanctions or embargo list, or if a vessel is owned by a someone suspected of fraud or is a sanctioned entity.

On the platform, Cleareye will conduct these checks, and Surecomp’s solution will automatically upload a report into the user’s back-office system with a summary of the document and compliance checks, along with confirmation of approval or identification of potential red flags. Users can then review their transactions to ascertain false positives or determine if further investigation is required.

Surecomp now has over 20 institutions, including banks, corporates and insurers, signed up to its Rivo platform and “many more” are in the process of joining, says Weitzel.

As reported by GTR, JP Morgan took a small equity stake in Cleareye through a minority investment in June last year.