NeuroGaint Systems and IBM announced the launch of NeuroLC, an advanced AI platform designed to transform Letter of Credit (LC) processing. Built with watsonx.ai and IBM Cloud Pak for Business Automation (CP4BA), NeuroLC enhances trade finance operations with AI-driven risk assessment, and regulatory compliance, enabling banks and financial institutions worldwide to streamline LC processing.
NeuroLC was built using watsonx.ai, IBM’s enterprise-grade AI developer studio, leveraging CP4BA’s end-to-end workflow automation, and AI-powered document processing to fully automate LC issuance, amendments, and settlements. The solution uses blockchain technology for transaction security, while its cloud-based multi-language, and multi-currency support a seamless global deployment.
“Our collaboration with IBM marks a significant milestone in AI-driven trade finance automation,” said Shankar Kambhampaty, Chief Technology Officer, NeuroGaint Systems. “By harnessing IBM’s advanced AI technologies like watsonx, and their robust integration with enterprise and banking ecosystems, we empower financial institutions to achieve unprecedented speed and security in LC processing, while maintaining adherence to global regulatory standards.”
“NeuroLC represents a paradigm shift in trade finance,” said Sandeep Bandaru, Chief Executive Officer, NeuroGaint Systems. “Financial institutions can now turn traditionally labour-intensive, error-prone processes into a streamlined digital ecosystem prepared to meet current and future demands.”
Beyond solving current inefficiencies, NeuroLC establishes a foundation for a resilient and scalable future in trade finance. The platform delivers transformative results: accelerating LC processing by up to 80%, reducing operational costs by 80%, and utilising an AI-powered detection system to minimise fraud risks by 99%.
“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,” said Yukti Punjabi, Director, Ecosystem, IBM India and South Asia. “Our collaboration with NeuroGaint highlights IBM’s commitment to responsible AI implementation through platforms like Watson X, helping financial institutions integrate generative AI into core workflows to maximise productivity.”
