TradeSun’s AI platform comes alive to automate global trade finance.
Tech
TradeSun
Meet TradeSun, Inc.
TradeSun is an Edison Award winning Artificial Intelligence (AI) and patent pending trade finance blockchain-enabled platform that automates the adjudication of trade finance contracts while simultaneously intercepting regulatory and fraudulent infractions. TradeSun integrates a unique blend of neural-symbolic AI with trade-based and industry standard rules to achieve an end to end solution right out of the box with over 300% improvement in processing letters of credit, bills for collection and open account. The TradeSun platform is being used by one of the world's largest global banks and also the leading bank in Africa, starting in Kenya. This spotlights TradeSun's vision to open up trade for the smaller exporters in these emerging economies, by simplifying the process, access to financing and mitigating the risk in the global marketplace.
Why is your company the best option to solve the problem you're solving?
TradeSun's platform exponentially learns from every transaction to achieve ever higher levels of autonomy in the adjudication of trade documents. What makes TradeSun #1 in the world is the accuracy in reading and understanding documents of varying types and quality better than a human. This is achieved through our neural-symbolic AI developed over the past 12 years and underpins the effectiveness of all downstream processes. The end result is a dramatic increase in volume of trades throughput, speed in turnaround of capital and the thoroughness of compliance checks and sanction screening, which delivers extraordinary ROI.
What nuggets of info make you interesting? Why do people care about what you're doing?
At TradeSun we are committed not only to a paperless future, but to a sustainable future. The TradeSun platform will be free for the small enterprises in emerging economies as we lead the way in the democratization and disintermediation of global trade. The Asian Development Bank and the WTO estimate $1.5T of trade in these markets are underserved with financing. As part of our local commitment to the greater good, the environment, and to human life, we keep honeybees at our corporate head office. These bees pollinate the flowers in our neighborhood and make honey that is enjoyed by our employees and our friends and family. Our 575 bees fly 21,678 miles to gather 4 pounds of nectar, pollinating 789,210 flowers to create 48 teaspoons of honey stored in 6-ounce jars.
What else do you want us to know?
TradeSun is more than just a group of experts in Trade Finance and Data Science. The people at TradeSun bring not only extensive knowledge, expertise and experience but interesting, unique backgrounds. Nigel Hook, CEO and Founder, is also a World Champion Powerboat Racer, visit www.nigelhook.com for more info. Dave Druker, VP, has been the mayor of Del Mar numerous times. Wyn James, VP, was a semi-professional Rugby player. Mike Lazarus, CTO, and Dr. Dimitri Popolov, Chief Data Scientist, both have their names on patents.
BEHIND THE COMPANY
CEO/Founder: Nigel Hook
What one book, podcast, newsletter, etc. do you recommend to other entrepreneurs? Why?
Book - Simon Sinek - Start with Why How great leaders inspire everyone to take action.
What is your company's secret sauce?
We own all the IP to a very special ensemble of neural-symbolic AI algorithms that we have discovered over a twelve year period in our R&D labs and practiced across industries both commercial and within the federal intelligence agencies. This technology has built industry rules and best practices which are adaptable by each customer through the user interface. As TradeSun exponentially gets smarter the trust secured with our R3 Corda blockchain technology on ASW.
What inspired you to start/run this company?
The dream of thinking machines transforming the world. Having grown up by Bletchley Park, I was inspired by Alan Turing (English mathematician and pioneer of theoretical computer science and artificial intelligence) cracking the Enigma codes and securing the outcome of World War II.
What's the best entrepreneurial advice you've received?
Focus on one area and be the best in the world.
What's the worst entrepreneurial advice you've received?
You're working too hard.
What sets your company culture apart?
The leadership at TradeSun has created a stimulating environment for success. We are the #1 leader in our space and we drive hard every day to stay on top. We celebrate the diversity of our team of 40 people living in 14 countries today. At our HQ in Del Mar the white water ocean views from our offices fuel our inspiration drive our team spirit. Many of our team have for more than 20 years and trust developed foundational to our very bright future.
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