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55% of global banks plan to increase their spending on trade finance platforms within a year, prioritising operational efficiency, customer experience, and product upgrades.
InSight DXP overview
Navigating pressure and modernisation in global trade
Financial institutions involved in global trade are under immense pressure to modernise their inefficient, outdated back-office systems. Modernisation is no longer optional; it’s the defining line between institutions that will lead the next wave of trade innovation. This push for digitisation is driven by client demands for better digital experiences, stricter regulatory requirements, and intensifying competition from agile fintech companies.
Data to decisions - building trust in the Digital Trade Back Office
The Iron Mountain Digital Trade Back Office is a unified software-as-a-service (SaaS) solution designed to streamline the trade finance journey, from document ingestion to compliance screening. By leveraging AI-powered automation, the platform achieves over 96% data extraction accuracy, dramatically reducing manual processing times, false positives and negatives, and operational risks.
Drive efficiency by reducing processing time and operational costs
As a single service provider, Iron Mountain covers end-to-end document, data, and risk management for trade finance operations, modernising workflows and simplifying vendor management. We use intelligent automation to streamline trade finance operations for greater efficiency. Manual workflows are replaced with AI-powered document classification and data extraction, which increases accuracy and cuts processing time from hours to minutes.
Empower compliance to mitigate risk
Mitigate risk, govern trade activity, and reduce compliance costs with digital advances that include AI-driven screening and contextual matching, the network graph method, and generative AI reporting. Iron Mountain InSight® Digital Experience Platform (DXP), built on a secure cloud environment, supports data and AI workflows. It enables compliance teams to focus on legitimate threats while helping reduce financial and regulatory exposure across your institution.
Provide a better customer experience
Accelerate digital transformation by speeding up trade data processing, allowing you to accelerate interest revenue, improve operating margins, and increase customer satisfaction through faster, near error-free service.
Frequently asked questions
How can manual global trade finance processing and its impact on trade operations be reduced?
Despite widespread digital transformation efforts, modern digital trade operations remain stubbornly tied to physical paper. The Organisation of Economic Co-operation and Development (OECD) estimates that 15% of the overall value of traded goods around the world is composed of hidden costs, much of it a result of the manual processes underlying most transactions, creating massive bottlenecks. This heavy reliance on paper forces back-office teams into hours of manual labor, preventing financial institutions from achieving a true paperless trade finance solution and severely bottlenecking transaction throughput.
Iron Mountain’s trade finance automation software eliminates this "paper tax" by replacing manual workflows with intelligent, end-to-end digital software. Utilizing advanced document AI and AI agents, it instantly digitizes and validates complex trade documents—like Bills of Lading and Letters of Credit—slashing the hidden overhead. Instead of teams spending days cross-referencing files, the software quickly automates governance and discrepancy checks, shifting staff to fast exception handling. By accelerating turnarounds from days to hours or minutes, Iron Mountain helps financial institutions maximize throughput and achieve a secure and automated, paperless trade ecosystem.
How do manual sorting, compliance, and reconciliation for documents like Bills of Lading and Letters of Credit create bottlenecks?
Most manual effort is consumed by sorting documents, executing anti money laundering (AML) compliance, and reconciling data across unstructured pages, which spikes human error and processing times.
Our trade finance software, Digital Trade Back Office, automates these manual back-office tasks, processing key trade finance documents, including:
- Letters of credit
- Bills of lading
- Invoices
- Inspection certificates
- Insurance documents
By automating organization, extraction, and compliance checks, the software eliminates operational friction, slashes processing times, and ensures high-stakes accuracy across your entire trade pipeline.
Can Intelligent Document Processing (IDP) and agentic AI automatically identify recurring document discrepancies?
Yes. While traditional IDP extracts the data, our agentic AI takes it a step further by actively reasoning across files to detect complex, cross-document discrepancies that humans easily miss.
Operating as an autonomous digital assistant, the system flags mismatched data across disparate files—such as conflicting cargo weights on a Bill of Lading versus an invoice, altered buyer names, or mismatched dates. Furthermore, it intelligently processes handwritten trade documents alongside standard text, capturing variations and autonomously cross-referencing information to validate compliance and accuracy before data ever reaches your back-office teams.
Additional resources
InSight Digital Experience Platform
Access information from a unified, automated, secure platform
InSight Intelligent Document Processing
Digitise, store, automate, and unlock the power of your data through the power of automation
Digital Back Office
An AI-driven SaaS solution that organises and validates all the messy paperwork and digital files in a bank’s back office operations