Tender Details

Country: USA
Summary: Artificial Intelligence (AI) Solution to Automate Trade Verification Process
UST Ref No: 59828238
Deadline: 07 Dec 2021
Financier: World Bank (WB)
Purchaser Ownership: Government
Tender Value: Refer Document
Notice Type: Tender
Document Ref. No.: RFP 22-0103
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Description:
Tenders are invited for Artificial Intelligence (AI) Solution to Automate Trade Verification Process. Issue Date and Time: Nov 12,2021 Closing Date and Time: Dec 07,2021 The Capital Market and Investment Trades of the Bank are captured in the trade life-cycle systems. These trades are executed with the counterparty and process of entering the trades are out of scope of this document. This document lists out the details of how these trades captured in WBG systems, are compared against the details of the same trade, captured in the trade confirmation documents (Term Sheets) received from the counterparty. This is to ensure that all the economic and legal terms of the trade are correctly captured both by the Bank and the counterparty. Such a verification process will ensure that at the time of settlement of the trades, there are no issues between the WBG and the counterparty, and the accounting treatment and valuation of trades would be complete and accurate for financial reporting. Currently all Term sheets, received from the counterparty by the WBG team, are manually verified, against the details of the same trade captured in WBG trade capture and life cycle management systems. In order to overcome the limitations stated above, the Bank has planned to implement a solution, which can “read” the Term Sheets received through email or stored on a shared folder. With the AI-based solution, it is expected is that the process of trades trade entry will continue to be entered/ booked, as is currently being done, but, on receipt of the trade confirmation document from the counterparty, the new (proposed) Artificial Intelligence based System should read these trade confirmation documents (xls, pdf, images, etc) and extract the appropriate data from these documents as a json/ xml file.
Documents:

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Artificial Intelligence (AI) Solution to Automate Trade Verification Process - USA Tender

The THE WORLD BANK GROUP, a Government sector organization in USA, has announced a new tender for Artificial Intelligence (AI) Solution to Automate Trade Verification Process. This tender is published on USARFP under UST Ref No: 59828238 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2021-12-07.

The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.