NeuroGaint Systems Partners With IBM To Deliver AI-Powered Letter-Of-Credit Processing
NeuroLC leverages CP4BA's end-to-end workflow automation and artificial intelligence-powered document processing to fully automate LC issuance, amendments and settlements.
NeuroGaint Systems, an IT solutions provider headquartered in Hyderabad, and IBM have launched NeuroLC, an advanced artificial intelligence platform to improve letter-of-credit processing.
Built with watsonx.ai, IBM's enterprise-grade AI developer studio, and IBM Cloud Pak for Business Automation, NeuroLC aims to enhance trade finance operations with AI-driven risk assessment. It will also enable regulatory compliance, allowing banks and financial institutions to streamline LC processing.
"Our collaboration with IBM marks a significant milestone in AI-driven trade finance automation," said Shankar Kambhampaty, chief technology officer at NeuroGaint Systems. "By harnessing IBM's advanced AI technologies like watsonx, and their robust integration with enterprise and banking ecosystems, we are empowering financial institutions to achieve unprecedented speed and security in LC processing, while maintaining adherence to global regulatory standards."
Financial institutions can now turn traditionally labour-intensive, error-prone processes into a streamlined digital ecosystem prepared to meet both current demands and future challenges, according to Sandeep Bandaru, chief executive officer of NeuroGaint Systems.
NeuroLC leverages CP4BA's end-to-end workflow automation and AI-powered document processing to fully automate LC issuance, amendments and settlements. The solution uses blockchain technology for transaction security, while its cloud-based multi-language and multi-currency support enables global deployment.
Beyond solving current inefficiencies, NeuroLC establishes a foundation for future scalability in trade finance. According to NeuroGaint Systems, the platform accelerates LC processing by up to 80%, reduces operational costs by 80% and utilises AI-powered detection systems to cut fraud risks by 99%.
"Today's financial sector faces unprecedented complexity. AI has emerged as the definitive solution for strategic transformation, operational efficiency and improved ROI, while addressing critical risk and compliance requirements," said Yukti Punjabi, director, ecosystem, IBM India and South Asia. "Our collaboration with NeuroGaint highlights IBM's commitment to responsible AI implementation through platforms like watsonx, helping financial institutions integrate generative AI into core workflows to maximise productivity."
