Posted on: 27 February 2024
Windward (LSE: WNWD), a leading Maritime AI™ company, announced the expansion of its successful collaboration with LSEG (London Stock Exchange Group) initiated in 2023. The new agreement introduces the integration of select LSEG’s World-Check services into Windward’s platform, providing their users with comprehensive compliance and risk management solutions beyond the maritime domain.
World-Check One data will augment Windward’s existing shipping analytic capabilities with more than 1000 global sanctions lists streamlining the screening process for onboarding, Know Your Customer (KYC) and third-party risk due diligence. The partnership creates a unique offering to empower Windward’s customers to stay ahead of emerging sanctions globally with one unified system for sanctions screening.
The expanded partnership addresses the growing demand for a unified approach to compliance, particularly in light of expanding sanctions regimes. The ongoing conflict in Ukraine has led to a slew of increasing sanctions placed on Russia and Russian entities by Western countries. Most recently, the European Commission passed a 12th package of sanctions in December 2023 and has approved a 13th package to mark the second anniversary of the invasion on February 24th, 2024.
These sanctions are having the intended impact as enforcement has intensified including an executive order passed by US President Biden targeting financial institutions that have indirectly allowed Russia to continue its war campaign. As such, it is increasingly important for stakeholders involved in global trade to have a holistic view of risk both in and out of the maritime domain.
“Our extended partnership with LSEG is a testament to our shared vision of providing comprehensive risk management solutions. In this turbulent environment it is more important than ever for stakeholders to manage all evolving risks,” said Ami Daniel, Co-founder and CEO of Windward. “By incorporating World-Check’s data into our platform, we are not only broadening our capabilities but also reinforcing our dedication to equip our clients with actionable insights for informed decision-making and empowering them to navigate the complexities and intricacies of global trade risk with confidence and ease.”
