Surecomp announces that Semsoft is the latest fintech to be integrated to its trade finance hub RIVO. The company’s flagship solution LESTR – an advanced artificial intelligence (AI) and data analytics maritime and trade risk intelligence platform – enables companies to monitor suspicious activity across their international trade operations.
The strategic partnership with French-based Semsoft has been developing over several months, with RIVO customers now able to seamlessly access the LESTR solution to mitigate trade-based risk, streamline due-diligence and escalation workflows, and provide in-depth analysis on trade and trade finance activity.
In its continued effort to facilitate streamlined trade finance process efficiency, reduce time, cost and risk, the addition of LESTR to RIVO marks another significant milestone. Regulatory requirements and international guidelines, such as the recent advisory published by OFAC1, clearly emphasise a rise in illicit trade which needs to be monitored. As a result, it’s increasingly important for companies to optimise visibility and controls across their supply chain to build resilience for future growth.
“Shipping has long-been used as a cover for illegal activity but this has become an even bigger issue following recent fraud cases and geopolitical events,” explains Semsoft’s Claire Paulus, Head of Business Process and Development. “We’re delighted that LESTR is now available to RIVO customers, expanding the reach of trade-related risk management and informed decision-making for enhanced compliance and maritime security.”
“In the rapidly evolving landscape of trade finance technology, it is crucial that companies can access cutting-edge solutions with a trusted and long-standing provider,” explains Enno-Burghard Weitzel, Surecomp’s SVP of Strategy, Digitization and Business Development. “One of the many advantages of RIVO is that we collaborate with best-in-class fintechs like Semsoft, to bring our customers intelligent insights, streamlined workflows and comprehensive risk management to redefine how they scale global trade finance.”