London-based fintech Traydstream has hired Stephan Hufnagl as chief technology officer, effective from late April.

Hufnagl, who joins from Microsoft, will oversee product development and innovation at the software company.

Traystream’s AI-driven platform digitises trade documents such as letters of credit and bills of lading, and then automates typical checking and compliance processes.

In hiring Hufnagl, the fintech has expanded its technology team and adopted a “significantly greater focus on innovation” across emerging technologies such as AI, machine learning and data analytics, a Traydstream spokesperson tells GTR.

The new hire will work alongside Traydstream’s head of technology, Richard Wrigley, the spokesperson adds.

Hufnagl will continue to be based in London and brings experience in data, analytics and AI to the role, following his four-year stint at Microsoft. Prior to this, he worked at Google for nearly six years.

In September, Traydstream secured US$21mn in its series B funding round and said the additional financing would increase product innovation and drive “fundamental shifts in how trade finance operates”.