When AI Knocks on the Door of International Payments – Worries, Hopes, and the Big Question

As someone who spent many years working in the field of International Payments (TTQT) and Trade Finance (TTTM) at a bank—and though now retired—I continue to accompany the profession in a new role: as a consultant, supporting younger colleagues working in banks and export-import companies. In recent years, I’ve clearly felt a quiet yet profound shift—a moment when Artificial Intelligence (AI) started knocking on the door of the International Payments – Trade Finance departments. And it’s not just knocking to say hello—it’s coming in to change the way we work.

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What is AI doing in the realm of Letters of Credit (LC)?

Imagine this: checking a thick LC document set, which used to take hours, now only takes minutes. An AI system can compare documents in detail against the terms of the LC, analyze them under UCP 600 (Uniform Customs and Practice for Documentary Credits) and ISBP 821 (International Standard Banking Practice), highlight discrepancies, and even suggest how to handle them.

To put it humorously: reviewing documents is no longer quite the “art” it once was—it’s becoming a “technical process.”

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What else can AI do?

• Fraud detection: It doesn’t sleep. It remembers all previous cases. And it learns from them.
• Full process automation: From OCR (Optical Character Recognition) to NLP (Natural Language Processing), AI can turn a pile of messy documents into clear, structured information.
• Support with translation, compliance checks, dispute resolution: Wherever precision and logic are needed, AI is ready to lend a hand.

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What do banks gain—and lose?

The first gain is clear: banks save costs, shorten processing time, and reduce legal risks. Customers are happy with faster, more accurate service. And banks rest easier, with fewer minor errors that could lead to complaints.

But on the flip side, AI acts like a silent flood. It doesn’t kick the door down—it quietly replaces manual tasks: document checks, data entry, payment instruction reviews… Predictions suggest that 50–75% of jobs in International Payments – Trade Finance could be replaced by AI in the next 3-5 years.

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What about the people?

There’s already some head-shaking and worry about job loss. And those concerns are completely valid.

But I still believe this: real professionals will always have a place. Because no matter how smart AI gets, it still needs humans to understand clients, handle exceptions, negotiate disputes, and make strategic decisions. The key is to adapt—before we’re replaced.

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Some friendly advice for those still in the field:

• Don’t avoid AI. Learn to work with it.
• Invest in professional certifications like CDCS (Certified Documentary Credit Specialist) or CSDG (Certificate for Specialists in Demand Guarantees).
• Sharpen your analytical skills, legal knowledge, and customer communication abilities.
• Explore deeper areas such as export-import credit, supply chain finance, and risk management.

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AI isn’t an enemy—it’s a new colleague. Smart, fast, but also “cold.” Meanwhile, we—the professionals—have something AI doesn’t: empathy, life experience, and real-world judgment.

The question isn’t: “Will AI replace me?”

It’s: “What will I learn to stay the one who gets chosen in the age of AI?”

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Mr. Old Man, 4/2025