Union Systems Limited (USL), a leading provider of trade finance and treasury technology in Nigeria, recently hosted an industry soiree for trade finance and treasury leaders. The event served as a platform to introduce significant product innovations designed to advance digital transformation in trade finance and treasury management.

Chuks Onyebuchi, CEO of Union Systems, highlighted the operational challenges faced by Nigerian banks, including stringent regulatory requirements, fragmented legacy systems, pressure to improve turnaround times, and the need for revenue growth while controlling costs. He emphasized that USL's technology is built with a deep understanding of the Nigerian market and its unique regulatory landscape.

USL's software solutions are currently utilized by prominent Nigerian banks such as Fidelity Bank, FCMB, Wema Bank, Coronation Merchant Bank, Rand Merchant Bank Nigeria, Premium Trust Bank, and Signature Bank. These platforms are instrumental in processing trade and treasury transactions that support Nigeria's real economy.

Kachasi Trade Finance Software Enhanced with AI Capabilities

A major announcement at the event was the introduction of advanced features to Kachasi, Union Systems' flagship trade finance software. These enhancements aim to significantly improve how Nigerian banks manage their trade finance operations.

The new Kachasi features include AI-powered shipping document screening, which automates document lodgement, verification, and compliance checks. This is expected to drastically reduce the time and effort involved in processing trade documents.

Furthermore, Kachasi's reporting engine now incorporates AI-powered trade business intelligence. This will equip trade finance teams with advanced analytics to identify new revenue opportunities, manage risks more effectively, and make informed, data-driven decisions.