In Banking and capital markets

What EY can do for you

The trade finance industry is highly complex and distributed, encompassing manufacturers, importers, shipping entities, financial institutions and government agencies.

An estimated US$1 trillion of financial crime proceeds flows through the US$9.1 trillion industry’s trade channels annually. Financial crime at this scale threatens to disrupt the global economy and cause monetary and reputational damage to financial institutions.

With regulatory scrutiny on the rise, banks must address key challenges:

  • Managing a high volume of paper documents and manual processes across the trade transaction life cycle
  • Detecting patterns of illicit trade finance activity as bad actors employ increasingly sophisticated techniques to launder money, illegally transport goods, and avoid sanctions and boycott

To help your company meet these challenges, we teamed with SAS to develop TRACK (Trade Risk Analytics Compliance Kit), an innovative platform that addresses the unique, complex risks in international trade.

TRACK goes beyond traditional transaction-monitoring tools, which struggle to address unstructured data, extensive party networks and complex transaction life cycles.

TRACK delivers next-generation transaction monitoring with:

  • Machine learning, artificial intelligence, robotic process automation (RPA) and optical character recognition (OCR) to automate and improve risk controls
  • A software as a service (SaaS) model to simplify deployment and operations
  • Our deep business knowledge and experience with regulatory guidance and model governance

TRACK can help move your business from inefficient, manual and paper-based processes to increased automation and digital innovation. That helps address the rising cost of compliance amid growing regulatory requirements.

TRACK can benefit any complex industry, including trade finance, capital markets, asset management, insurance and wholesale payments.

The team

Jake Jacobson

EY Global Trade Finance Risk and Compliance Leader
Product and technology innovator, helping clients effect meaningful business outcomes through technology, business model, and process innovation.
Minneapolis, USA

Patrick Craig

EY EMEIA Financial Crime Technology Lead
Helping banks get the most out of their financial crime risk management programs. Experienced with compliance and AML technologies.
London, GBR

James Sankey

EY EMEIA Corporate, Commercial and SME Banking Leader
Focused on helping corporate, commercial and SME banks transform in an ever-changing world. Enjoys helping others. Curious and creative. Passionate about nature and sustainability.
London, GBR

Bram van Sunder

Partner, Financial Services, EY Advisory Netherlands LLP
Optimist. Constructive. Relationship-focused. Network-based mindset, adept at making connections.
Amsterdam, NLD

Vincent Kock

Director, Banking Transformation, Ernst & Young LLP
Business transformation advocate. Innovation-focused thought leader in commercial banking. Tech & people-powered. Travel enthusiast.
London, GBR

Andrew Gilder

EY Asia-Pacific Banking and Capital Markets Leader; Global Corporate, Commercial and SME (CCSB) Banking Consulting Leader
Banking and Capital Markets Leader. Over 25 years of advisory experience on risk controls and accounting. Keen interest in consumer banking and other banking trends across Asia-Pacific.
Singapore, SGP

Abhay Chauhan

EY Asia-Pacific Corporate, Commercial and SME Banking (CCSB) Leader
Helping businesses build competencies focused on sustainable growth. Contributing to the development and collaboration efforts in the corporate, commercial and SME banking (CCSB) space.
Singapore, SGP

Our latest thinking

Why banks should transform trade finance controls

By digitizing trade finance controls, banks can better address money laundering and help SMEs seize exciting business opportunities. Read more.

How digital transformation is redesigning trade finance

Banks that adopt an agile, design-based approach to digital transformation can boost the success of their trade finance functions.

    Contact us
    Like what you’ve seen? Get in touch to learn more.