TradeSun hires ex-JP Morgan Bhumish Shah as geopolitics drives demand for compliance and document review

Rick Steves

“With the increasingly fraught geopolitical environment spilling over into trade, the time is now for stakeholders to leverage technology for compliance and document review.”

TradeSun has announced the appointment of Bhumish Shah as Chief Technology Officer to bolster the cloud-based platform through strategic and innovative technology to support customers as they digitize their trade processes.

TradeSun is experiencing rapid global expansion as the AI-powered platform finds greater demand for trade digitization, compliance and document examination.

Based out of the firm’s India hub, the new CTO will enhance the platform that extracts and standardizes transaction data, performs multiple compliance activities in real-time, intercepts illicit activities in flight, and ensures trade documents meet international standards.

Fraught geopolitical environment leads to more compliance and document examination

Bhumish Shah joins TradeSun from JPMorgan, where he was most recently Executive Director for more than a decade, with a focus on financial and cloud-based solutions across banking. Bhumish Shah has previously worked in technology-focused roles, including at Infosys and Goldman Sachs, for more than 25 years.

Nigel Hook, Founder and Chief Executive Officer at TradeSun, said: “Bhumish has much experience working across the banking domain, and will support our vision of transforming trade finance with the best technology. With the increasingly fraught geopolitical environment spilling over into trade, the time is now for stakeholders to leverage technology for compliance and document review. We are pleased that Bhumish will be at the helm of our talented technology team.”

Bhumish Shah, Chief Technology Officer at TradeSun, added: “I am delighted to be joining the TradeSun team to support customers and the trade finance industry in scaling up digitization efforts. My focus will be optimizing the platform to further enhance the offering and help stakeholders on their digital transformation journey.”

TradeSun launched real-time compliance solution

TradeSun has recently launched its Real-Time Compliance solution as financial crime risks weigh on banks and their corporate clients.

Real-Time Compliance, a core part of the TradeSun Platform, enables banks to detect and intercept illicit activities in trade instantly, taking a holistic view of financial crime prevention. It replaces the manual, siloed and retrospective approach commonly deployed in trade compliance today.

The comprehensive AI-powered solution covers sanctions screening, bill of lading tracking, trade-based money laundering, dual use goods, fair price check, anti-boycott language, and raises alerts for transactions involving high-risk industries, goods and/or jurisdictions. It seamlessly integrates leading data providers, including MarineTraffic, IHS Markit, Lloyd’s List Intelligence, and more.

With authorities warning that trade-based financial crime risks are increasing in trade and international sanctions intensifying, banks must have the tools to effectively identify and stop illicit activities, or risk further regulatory action, hefty fines, and reputational damage. Real-Time Compliance enables TradeSun customers to advance compliance processes and adhere to the strict global regulatory environment with confidence.

 

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