NeuroGaint Systems, an IT solutions provider based in Hyderabad, has partnered with IBM to introduce NeuroLC, an AI platform aimed at transforming the processing of Letters of Credit (LC).
The platform, developed with IBM’s watsonx.ai and Cloud Pak for Business Automation (CP4BA), is designed to enhance trade finance operations by incorporating AI-driven risk assessment and regulatory compliance.
NeuroLC uses IBM’s enterprise-grade AI developer studio, watsonx.ai, alongside CP4BA’s comprehensive workflow automation and AI-powered document processing capabilities. This enables the full automation of LC issuance, amendments, and settlements.
By employing blockchain technology, the platform ensures transaction security, while its cloud-based architecture supports multi-language and multi-currency operations, facilitating seamless global deployment.
NeuroGaint Systems CTO Shankar Kambhampaty said: “Our collaboration with IBM marks a significant milestone in AI-driven trade finance automation.
“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 standard.”
NeuroGaint Systems CEO Sandeep Bandaru said: “NeuroLC represents a paradigm shift in trade finance. 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.”
The platform not only addresses existing inefficiencies but also lays the groundwork for a resilient and scalable future in trade finance. NeuroLC is reported to accelerate LC processing by up to 80%, cut operational costs by 80%, and deploy an AI-powered detection system to reduce fraud risks by 99%.
IBM India and South Asia ecosystem director Yukti Punjabi said: “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.
“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 maximize productivity.”
Last month, financial software company Finastra launched an upgraded cloud-based lending managed services platform in collaboration with IBM.
The revamped Lending Cloud Service (LCS) platform incorporates IBM’s technology and consulting expertise, supporting Finastra’s corporate lending solutions such as Loan IQ, Trade Innovation, and Corporate Channels for clients in North America and Europe.
