NatWest to automate trade finance checks with Cleareye.ai

NatWest has signed an agreement with Cleareye.ai to deploy software that automates checks on trade finance documents and runs AI-driven screening for trade-based money laundering across its trade finance operations.

The software will verify transactions against International Chamber of Commerce rules and examine complex digital and paper documents for signs of trade-based money laundering. Trade finance often involves large cross-border payments and multiple participants.

NatWest expects the system to speed up foreign trade for business clients while tightening fraud and financial-crime screening on transactions that involve multiple parties and high values.

Michael Gilham, trade product lead for commercial and institutional banking at NatWest, commented, “The technology will help its business customers trade in foreign markets with greater speed and certainty.” He added the capability would strengthen protection against fraud and help the bank provide better service to customers.

The bank described the agreement as part of its focus on building operational resilience, adopting advanced technologies and meeting regulatory demands in global trade.

In 2025 NatWest reported that its software engineers generated 35% of the bank’s code using AI development tools. The bank reported it gave AI productivity software to about 60,000 staff and recorded thousands of saved human hours. The group began a major collaboration with OpenAI last year.

Cleareye.ai has been used by other large UK banks; Lloyds Bank signed with the firm in 2024 to automate checks on digital and paper trade documents. Banks are applying automation beyond customer chatbots into back-office processes that require detailed document review and compliance screening.

A 2025 survey by Lloyds Banking Group found that 59% of financial firms reported AI-driven productivity gains in the previous 12 months, up from 32% a year earlier. The survey showed increases in firms reporting AI-driven business growth, improved customer experience and deeper customer insights.

A forecast by Zopa and Juniper Research estimated generative AI could save 187 million labour hours and displace 27,000 jobs by 2030, mainly in back-office roles. Commerzbank plans to increase AI investment to €600m over four years and announced plans to cut around 3,000 jobs as part of a restructuring linked to its AI programme.

Trade finance requires manual checks on letters of credit, bills of lading and other documents that confirm the terms of international trades. Banks screen those documents to ensure transactions meet ICC standards and to detect signs of trade-based money laundering such as distorted invoices, mis-declared goods or complex routing.

NatWest expects the deployment to reduce manual processing, speed decision-making for trade customers and strengthen automated detection of suspicious activity. The bank aims to keep pace with regulatory requirements while improving the timeliness and certainty of trade transactions for clients.