By Ribal Zwein
CTIO Fineon Exchange 

Over the last decade and with the advent of digital technology, new terminologies have come into wider use, from Business Intelligence, Advanced Analytics, Big Data and Artificial Intelligence to Machine Learning and Prediction Models. More recently, companies are finding that through the implementation of Data Intelligence, they can improve their decision-making process. And Data Intelligence plays a major role in Augmented Intelligence. But what exactly is Augmented Intelligence? 

Augmented Intelligence is a new analytical model powered by data intelligence that combines Machine Learning (ML), Natural Language Processing (NLP), Data Preparation, Advanced Analytics, and Visualization capabilities to enhance data analytics, data sharing, and business intelligence. It is identified as an alternative view of artificial intelligence and mainly designed to enhance human intelligence rather than replace it. 

The Use of Augmented Intelligence in Trade and Export Finance 

From a Trade Finance perspective, what does Augmented Intelligence offer to exporters? By processing exporters’ data along with data from their counterparts’ (i.e. Obligors/ Buyers, financiers and Insurers), could Augmented Intelligence benefit every party? 

This is the principle behind the new ​​Fineon Exchange​​ Marketplace platform. Whilst the platform’s main role is matchmaking exporters & funders, it‘s Augmented Intelligence capabilities can play a more strategic role by providing all stakeholders the ability to enrich data sets for KYC, enhanced due diligence, transactional data, alternative data, and diverse scoring models to perform advanced analytics. 

As an example, Fineon Exchange​​ allows an exporter to import its trading history from an ERP system and combine that data with analytics around funders’ and insurers’ data. Using NLP, this gives exporters the ability to generate charts and reports that enable them to predict many different important markets and business-related complications. The result is that they can boost their revenues and mitigate export risks. 

The platform also provides granular visibility into the underlying risk, thus the platform stakeholders can easily identify the obligors’ risk, predict pricing, find best trade finance options and optimise financing. At the same time, funders on the platform can analyse trends, drill down through historical data and explore valuable market insights. This enables them to optimise their strategies for more business opportunities by predicting market trends for example; whilst becoming more client-centric with their corporate banking relationships. 

When it comes to digitizing trade finance, we believe that Augmented Intelligence will look at for transactional data, on competitors data, partners and markets data to identify catalysts that provide additional optimization capabilities and opportunities to provide relevant added value services to existing clients, and fresh approaches to prospective new clients. In a competitive Corporate Finance world, this is invaluable.