A Leading Asian Bank Transformed Its Trade Finance Operations with Lloyd’s List Intelligence

Overview:

A prominent Southeast Asian bank, operating across 20 countries with 2,400 branches, faced challenges in verifying Bill of Lading documents and tracking vessels amidst a complex regulatory environment.

The Trade Finance Operations team sought a solution to enhance efficiency and compliance in their processes. They needed fast, accurate vessel data and on-demand access to maritime experts to make informed decisions quickly.

Challenges:

• Inefficient Document Verification: Manual searches for vessel information, such as IMO numbers and name changes, were time-consuming.
  
  
• Regulatory Compliance Risks: Difficulty in staying updated with evolving sanctions and regulations.
  
  
• Lack of Expert Support: Absence of maritime data experts to validate insights and provide guidance.

Solution:

The bank adopted Seasearcher by Lloyd’s List Intelligence, gaining access to:

• Comprehensive Vessel Data: Detailed information on vessel movements and ownership.
  
  
• Integrated Sanctions Information: Real-time updates from key sanction authorities.
  
  
• Expert Support: Access to maritime data experts for validation and insights.
  
  

Results:

• Reduced Search Time: Significant decrease in time spent locating vessel information.
  
  
• Enhanced Compliance: Improved ability to meet service level agreements and compliance requirements.
  
  
• Increased Efficiency: Streamlined processes leading to fewer delays in document processing.

Discover how Seasearcher can transform your maritime compliance operations.