Stockholm-based Mitigram, known for its digital trade finance execution platform, has signed a partnership with Complidata, which is headquartered in Brussels and specialises in using artificial intelligence for trade finance automation and financial crime prevention.

This partnership will combine their technologies, bringing together Mitigram’s end-to-end transaction management platform for export letters of credit with Complidata’s TradeSpeed, an AI-powered system for document extraction and checking.

On this, Mitigram’s Chief Executive Officer, Pedram Tadayon stated, “Our partnership with Complidata represents a fundamental shift toward more intelligent trade finance operations. By combining execution excellence with advanced compliance automation, we’re providing the market with a clear path forward for institutions seeking to modernise their trade finance capabilities while maintaining rigorous risk standards.”

Creating a seamless document management system

The joint solution helps clients of both companies check their trade documentation against compliance requirements, screen for potential sanctions violations, and spot possible trade-based money laundering activities before formal submission.

The real value comes from having full visibility throughout the transaction process. Early results show impressive outcomes: processing times have decreased by 40%, while automated compliance and document checking systems consistently achieve accuracy rates exceeding 95%.

These improvements create actual business benefits for financial institutions and corporate entities. Companies using the solution experience reduced operational risks, faster processing times, shorter payment collection periods, and lower administrative costs.

All these advantages come from addressing a well-known industry problem that 70% of letter of credit documentation contains errors or inconsistencies when first submitted, creating major barriers to smooth trade operations.

As per Complidata’s CEO Ben Arber, “Effective digital transformation in trade finance requires partnering with leaders who have proven expertise. By working alongside Mitigram’s exporter and banking execution platform, we can together deliver the compliance automation and risk management capabilities that modern  trade finance operations demand across the entire value chain.”

What is next?

Both companies see this partnership as key to removing barriers in global trade finance and expanding the use of artificial intelligence as a core tool. Their work together will soon grow beyond current features.

Complidata has announced plans to improve TradeSpeed to support document creation for corporate beneficiaries.

This upcoming feature will use the company’s in-house large language model (LLM) technology to solve an ongoing industry challenge of creating accurate, compliant documentation quickly despite often receiving incomplete or unclear initial information. It will also be very transformative for companies to manage some of their most challenging paperwork tasks.