Windward to supply AI-based maritime predictive intelligence system to Danske Bank

Danske Bank of Denmark has entered into a partnership with Windward to use its AI-based predictive intelligence system to support management of risk and compliance in maritime trade finance transactions.

Windward’s technology will enable Danske Bank to employ dynamic risk profiling of clients and potential partner companies, and to apply automated risk-based maritime compliance data to ensure it is following sanctions regulations.

The platform will also be used for screening, investigating and auditing Danske Bank transactions that involve the 90% of global trade which occurs on the ocean.

“Financial institutions are some of the most heavily regulated in the world,” said Amalie Korning Wedege, Head of Sanctions Compliance at Danske Bank.

“In addition to our ongoing efforts against AML (Anti-Money Laundering), new sanctions advisories by OFAC (Office of Foreign Assets Control) and OFSI (Office of Financial Sanctions Implementation) have made an already complex ecosystem even more difficult to navigate.”

“To meet regulatory expectations, we are enhancing our efforts to improve business operations, reduce risk, and improve compliance across maritime financial trade using Windward’s AI solution.”

Windward’s system is powered by its MAIA (Maritime Artificial Intelligence Analytics) technology, which incorporates 300 behavioural analytics models and over 10 billion data points to analyse maritime trade patterns.

“It is an honour to partner with Danske Bank, an established and respected financial institution with deep roots in the global maritime industry,” said Ami Daniel, CEO of Windward.

“Trade finance is becoming more complex as regulations targeting money laundering, financial crime, and compliance evolve across the globe, and it’s imperative that banks intimately know who they are doing business with.”

“Danske Bank now has the most comprehensive, real-time, risk-based view of the maritime trade ecosystem that enables the highest level of accountability, transparency, and compliance to facilitate better business operations.”

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Rob O'Dwyer

Rob is Chief Network Officer and one of the founders of Smart Maritime Network. He also serves as Chairman of the Smart Maritime Council. Rob has worked in the maritime technology sector since 2005, managing editorial for a range of leading publications in the transport and logistics sector. Get in touch by email by clicking here, or on LinkedIn by clicking here.

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