Last checked at 27 Feb 2024 07:00
Reach
27 February 2024
Windward Ltd.
("Windward", "the Company")
Windward Expands Partnership with LSEG
Windward's advanced AI capabilities will now include LSEG's World-Check One data for comprehensive counterparty risk screening, catering to the evolving needs of global trade stakeholders.
Windward (LSE: WNWD), the leading Maritime AI? company, is pleased to announce the expansion of its collaboration with the London Stock Exchange Group ("LSEG") initiated in 2023.
The new agreement introduces the integration of select LSEG's World-Check services into Windward's platform, providing users with comprehensive compliance and risk management solutions beyond the maritime domain. This creates a unique offering to empower Windward's customers to stay ahead of emerging sanctions globally with one unified system for sanctions screening.
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 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.
Enforcement has intensified as a result of these sanctions, 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.
Ami Daniel, Co-founder and CEO of Windward, said:
"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."
"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."
For more information, please contact:
Windward Ltd. | via Alma Strategic Communications |
Irit Singer, CMO
| |
Canaccord Genuity (Nominated Adviser & Broker) | +44(0)20 7523 8000 |
Simon Bridges / Andrew Potts
| |
Alma Strategic Communications | +44(0)20 3405 0205 |
Caroline Forde / Kieran Breheny |
About Windward
Windward (LSE:WNWD), is the leading Maritime AI? company, providing an all-in-one platform to accelerate global trade. Windward's AI-powered decision support and exception management platform offers a 360° view of the maritime ecosystem and enables stakeholders to make real time, predictive intelligence-driven decisions to achieve business and operational readiness.
Windward's Maritime AI supports companies across industries. The company's clients range from oil supermajors, freight forwarders, and port authorities, to banks, shippers, insurers, and governmental organizations.
For more information visit: https://windward.ai/.
Reach
This is a Reach announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the Company's performance. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.